Notes to the consolidated income statement and consolidated balance sheet
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Discount income | 2,044 | 2,915 | –871 | –29.9 |
Loan commissions with the character of interest | 226 | 249 | –23 | –9.2 |
Interest income from banks | 3,252 | 11,265 | –8,013 | –71.1 |
Interest income from customers | 50,677 | 63,078 | –12,401 | –19.7 |
Interest income from financial instruments measured at amortised cost | 22,048 | 20,131 | 1,917 | 9.5 |
Interest income from financial liabilities | 39 | 3 | 36 | n.a. |
Total interest income from financial instruments at amortised cost | 78,286 | 97,641 | –19,355 | –19.8 |
Interest-rate instruments | –22 | –17 | –5 | –29.4 |
Forward components from foreign currency contracts | 43,120 | 48,302 | –5,182 | –10.7 |
Hedge accounting | 0 | 0 | 0 | n.a. |
Total other interest income | 43,098 | 48,285 | –5,187 | –10.7 |
Total interest income | 121,384 | 145,926 | –24,542 | –16.8 |
Interest expenses on amounts due to banks | 8 | 303 | –295 | –97.4 |
Interest expenses on amounts due to customers | 50,751 | 71,601 | –20,850 | –29.1 |
Interest expenses on medium-term notes | 263 | 206 | 57 | 27.7 |
Interest expenses on debentures issued | 466 | 466 | 0 | 0.0 |
Interest expenses from financial assets | 154 | 3 | 151 | n.a. |
Interest expenses on lease liabilities | 76 | 113 | –37 | –32.7 |
Total interest expenses using the effective interest method | 51,718 | 72,692 | –20,974 | –28.9 |
Total net interest income | 69,666 | 73,234 | –3,568 | –4.9 |
Fair-value hedges | ||||
Movements arising from hedges | 22 | –5 | 27 | n.a. |
Micro fair-value hedges | 22 | –5 | 27 | n.a. |
Movements in underlying transactions | –22 | 5 | –27 | n.a. |
Micro fair-value hedges | –22 | 5 | –27 | n.a. |
Total hedge accounting | 0 | 0 | 0 | 0.0 |
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Commission income from credit business | 747 | 480 | 267 | 55.6 |
Asset management and investment business1 | 37,084 | 30,846 | 6,238 | 20.2 |
Brokerage fees1 | 20,952 | 14,894 | 6,058 | 40.7 |
Securities account fees1 | 2,724 | 8,733 | –6,009 | –68.8 |
Fund management fees | 13,827 | 14,841 | –1,014 | –6.8 |
Fiduciary commissions | 578 | 1,100 | –522 | –47.5 |
Other commission and service income1 | 10,288 | 8,534 | 1,754 | 20.6 |
Total income from commission business and services | 86,200 | 79,428 | 6,772 | 8.5 |
Brokerage expenses | 562 | 574 | –12 | –2.1 |
Other commission and services-related expenses | 11,258 | 9,836 | 1,422 | 14.5 |
Total expenses from commission business and services | 11,820 | 10,410 | 1,410 | 13.5 |
Total net income from commission business and services | 74,380 | 69,018 | 5,362 | 7.8 |
1Due to new fee structures, there were shifts within these income items compared with the same period last year. The figures from the previous year remain unchanged.
The following table shows which components are included within the income position “asset management and investment business“:
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Fees for securities settlement1 | 18,682 | 6,071 | 12,611 | 207.7 |
Administration commissions1 | 14,632 | 15,613 | –981 | –6.3 |
Management fees | 3,645 | 3,502 | 143 | 4.1 |
Brokerage fees | 6,795 | 9,192 | –2,397 | –26.1 |
Securities account fees | 2,046 | 1,572 | 474 | 30.2 |
Administration fees | 2,146 | 1,347 | 799 | 59.3 |
All-in fees1 | 2,369 | 7,778 | –5,409 | –69.5 |
Miscellaneous fees | 1,401 | 1,384 | 17 | 1.2 |
Asset management and investment business | 37,084 | 30,846 | 6,238 | 20.2 |
1Due to new fee structures, there were shifts within these income items compared with the same period last year. The figures from the previous year remain unchanged.
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Securities trading1, 2 | 423 | 18 | 405 | n.a. |
Foreign currency2 | 15,006 | 18,261 | –3,255 | –17.8 |
Banknotes, precious metals and other | 880 | 663 | 217 | 32.7 |
Total income from trading activities | 16,309 | 18,942 | –2,633 | –13.9 |
1The results from derivatives for the purposes of risk minimisation (other than interest-rate derivatives) are included in this item.
2Expenses directly related to foreign exchange transactions are now reported under “Foreign currency.” As a result, net income from securities trading for the prior year has increased by CHF 1.743 million to CHF 0.018 million, while net foreign currency income has decreased by the same amount to CHF 18.261 million. This reclassification has no further impact on the consolidated financial statements.
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Income from financial instruments at fair value | 9,984 | 8,804 | 1,180 | 13.4 |
Income from financial instruments at amortised cost | 0 | 0 | 0 | n.a. |
Total income from financial instruments | 9,984 | 8,804 | 1,180 | 13.4 |
Income from financial instruments at fair value | ||||
Income from FVTPL assets | 825 | 903 | –78 | –8.6 |
Interest income from FVTPL financial instruments | 0 | 0 | 0 | n.a. |
Dividend income from FVTPL financial instruments | 695 | 1,744 | –1,049 | –60.1 |
Dividend income from FVTOCI financial instruments | 8,464 | 6,157 | 2,307 | 37.5 |
thereof from FVTOCI financial instruments sold | 52 | 0 | 52 | n.a. |
Income from FVTPL liabilities | 0 | 0 | 0 | n.a. |
Total | 9,984 | 8,804 | 1,180 | 13.4 |
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % | |
Income from real estate | 13 | 11 | 2 | 18.2 | |
Income from joint venture companies | 260 | 0 | 260 | n.a. | |
Miscellaneous other income1 | 948 | 5,345 | –4,397 | –82.3 | |
Total other income | 1,221 | 5,356 | –4,135 | –77.2 |
1Includes in 2025 CHF 4.6 million from reimbursements.
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Salaries and wages | 70,404 | 72,008 | –1,604 | –2.2 |
Social contributions required by law | 6,292 | 6,456 | –164 | –2.5 |
Contributions to pension plans / defined-benefit plans | 5,484 | 5,527 | –43 | –0.8 |
Contributions to pension plans / defined-contribution plans | 894 | 986 | –92 | –9.3 |
Other personnel expenses | 1,548 | 2,294 | –746 | –32.5 |
Capitalised personnel expenses1 | –1,454 | –1,378 | –76 | –5.5 |
Total personnel expenses | 83,168 | 85,893 | –2,725 | –3.2 |
1In accordance with IAS 38, a portion of internally generated intangible assets such as software is capitalised. The amount that can be capitalised is reduced accordingly in personnel expenses.
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Occupancy expenses | 1,573 | 1,599 | –26 | –1.6 |
Insurance | 636 | 609 | 27 | 4.4 |
Professional fees | 4,677 | 6,894 | –2,217 | –32.2 |
Financial information procurement | 4,644 | 4,707 | –63 | –1.3 |
Telecommunication and postage | 619 | 622 | –3 | –0.5 |
IT systems | 15,552 | 17,548 | –1,996 | –11.4 |
Marketing and public relations | 2,064 | 2,120 | –56 | –2.6 |
Capital taxes | 118 | 404 | –286 | –70.8 |
Other general and administrative expenses | 7,094 | 7,410 | –316 | –4.3 |
Total general and administrative expenses | 36,977 | 41,913 | –4,936 | –11.8 |
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Depreciation and amortisation of property and equipment | 5,831 | 6,234 | –403 | –6.5 |
Depreciation and amortisation of intangible assets | 7,363 | 8,763 | –1,400 | –16.0 |
Total depreciation and amortisation | 13,194 | 14,997 | –1,803 | –12.0 |
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Decrease/increase default risk | –77 | –458 | 381 | 83.2 |
Legal and litigation risks | –16 | 13 | –29 | –223.1 |
Other provisions and losses | 1,958 | 483 | 1,475 | 305.4 |
Total valuation allowances, provisions and losses1 | 1,865 | 38 | 1,827 | n.a. |
1Including currency effects.
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Current taxes | 3,249 | 3,538 | –289 | –8.2 |
Deferred taxes | 677 | 187 | 490 | 262.0 |
Total taxes on income | 3,926 | 3,725 | 201 | 5.4 |
30.06.2026 | 30.06.2025 | |
Consolidated earnings per share of VP Bank Ltd, Vaduz | ||
Group net income (in CHF 1,000)1 | 32,430 | 28,788 |
Weighted average of registered shares A issued | 6,015,000 | 6,015,000 |
Weighted average of registered shares B issued | 6,004,167 | 6,004,167 |
Less weighted average number of treasury shares A | 317,680 | 360,366 |
Less weighted average number of treasury shares B | 352,637 | 352,990 |
Weighted average number of registered shares A (undiluted) | 5,697,320 | 5,654,634 |
Weighted average number of registered shares B (undiluted) | 5,651,530 | 5,651,177 |
Total weighted average number of shares (registered shares A) | 6,262,473 | 6,219,751 |
Undiluted consolidated earnings per registered share A (in CHF) | 5.18 | 4.63 |
Undiluted consolidated earnings per registered share B (in CHF) | 0.52 | 0.46 |
Diluted consolidated earnings per share of VP Bank Ltd, Vaduz | ||
Group net income (in CHF 1,000)1 | 32,430 | 28,788 |
Dilution effect number of registered shares A2 | 37,039 | 27,024 |
Number of shares used to compute the fully diluted consolidated net income | 6,299,512 | 6,246,775 |
Diluted consolidated earnings per registered share A (in CHF) | 5.15 | 4.61 |
Diluted consolidated earnings per registered share B (in CHF) | 0.51 | 0.46 |
1On the basis of Group profits attributable to the shareholders of VP Bank Ltd, Vaduz.
2The dilutive effect results from outstanding management participation plans.
in CHF 1,000 | |||||||
Year of issue | ISIN | Interest rate in % | Currency | Maturity | Nominal amount | Total 30.06.2026 | Total 31.12.2025 |
2019 | CH0461238880 | 0.6 | CHF | 29.11.2029 | 155,000 | 154,990 | 154,989 |
Total | 155,000 | 154,990 | 154,989 | ||||
Debt securities issued are recorded at fair value plus transaction costs upon initial recognition. Fair value corresponds to the consideration received. Subsequently, they are remeasured at amortised cost. In this process, the effective interest method (0.60 per cent debenture 2029) is applied in order to amortise the difference between the issuance price and redemption value over the duration of the debentures.
30.06.2026 | 31.12.2025 | |||
No. of shares | Nominal CHF | No. of shares | Nominal CHF | |
Registered shares A of CHF 10.00 nominal value | 6,015,000 | 60,150,000 | 6,015,000 | 60,150,000 |
Registered shares B of CHF 1.00 nominal value | 6,004,167 | 6,004,167 | 6,004,167 | 6,004,167 |
Total share capital | 66,154,167 | 66,154,167 | ||
All shares are fully paid up.
30.06.2026 | 31.12.2025 | |||
No. of shares | in CHF 1,000 | No. of shares | in CHF 1,000 | |
Registered shares A at the beginning of the financial year | 333,415 | 35,016 | 375,460 | 39,432 |
Purchases | 0 | 0 | 0 | 0 |
Sales | –38,919 | –4,087 | –42,045 | –4,416 |
Balance of registered shares A as of balance sheet date | 294,496 | 30,929 | 333,415 | 35,016 |
Registered shares B at the beginning of the financial year | 352,244 | 5,469 | 353,169 | 5,477 |
Purchases | 1,750 | 15 | 975 | 8 |
Sales | 0 | 0 | –1,900 | –16 |
Balance of registered shares B as of balance sheet date | 353,994 | 5,484 | 352,244 | 5,469 |
2026 | 2025 | |
Approved and paid dividend of VP Bank Ltd, Vaduz1 | ||
Dividend (in CHF 1,000) for the financial year 2025 (2024) | 26,462 | 26,462 |
Dividend per registered share A | 4.00 | 4.00 |
Dividend per registered share B | 0.40 | 0.40 |
Payout ratio (in %)2 | 53.0 | 134.0 |
1Including treasury shares.
2Dividend per registered share A / Group net income per registered share A.
Fair value of financial instruments
The following table shows the fair values of financial instruments based on the valuation methods and assumptions set out below. This table is presented because not all financial instruments are disclosed at their fair values in the consolidated financial statements. The fair value equates to the price at the date of measurement which could be realised from the sale of the asset, or which must be settled for the transfer of the liability, in an orderly transaction between market participants.
in CHF million | Carrying value 30.06.2026 | Fair value 30.06.2026 | Variance | Carrying value 31.12.2025 | Fair value 31.12.2025 | Variance |
Assets | ||||||
Cash and cash equivalents | 1,547 | 1,547 | 0 | 1,348 | 1,348 | 0 |
Receivables arising from money market papers | 166 | 166 | 0 | 157 | 157 | 0 |
Due from banks | 1,348 | 1,348 | 0 | 747 | 747 | 0 |
Due from customers | 5,774 | 5,839 | 65 | 5,926 | 5,992 | 66 |
Trading portfolios | 1 | 1 | 0 | 1 | 1 | 0 |
Derivative financial instruments | 48 | 48 | 0 | 25 | 25 | 0 |
Financial instruments at fair value | 300 | 300 | 0 | 239 | 239 | 0 |
of which designated on initial recognition | 0 | 0 | 0 | 0 | 0 | 0 |
of which mandatory under IFRS 9 | 51 | 51 | 0 | 47 | 47 | 0 |
of which recognised in other comprehensive income with no effect on net income | 249 | 249 | 0 | 193 | 193 | 0 |
Financial instruments at amortised cost | 2,064 | 2,048 | –16 | 2,028 | 2,018 | –10 |
Subtotal | 49 | 56 | ||||
Liabilities | ||||||
Due to banks | 476 | 476 | 0 | 517 | 517 | 0 |
Due to customers | 9,414 | 9,334 | 80 | 8,621 | 8,561 | 60 |
Derivative financial instruments | 27 | 27 | 0 | 22 | 22 | 0 |
Medium-term notes | 75 | 76 | –1 | 75 | 76 | –1 |
Debentures issued | 155 | 152 | 3 | 155 | 152 | 3 |
Subtotal | 82 | 62 | ||||
Total variance | 131 | 118 |
The following valuation methods are used to determine the fair value of on-balance-sheet financial instruments:
Cash and cash equivalents, money market papers
For the balance sheet items “Cash and cash equivalents” and “Receivables arising from money market papers”, which do not have a published market value on a recognised stock exchange or on a representative market, the fair value corresponds to the amount payable at the balance sheet date.
Due from/to banks and customers, medium-term notes, bonds
In determining the fair value of amounts due from/to banks, due from/to customers (including mortgage receivables and due to customers in the form of savings and deposits), as well as of medium-term notes and bonds with a fixed maturity or a refinancing profile, the net present value method is applied (discounting of cash flows with swap rates corresponding to the respective term). For products whose interest or payment flows cannot be determined in advance, replicating portfolios are used.
Trading portfolios, trading portfolios pledged as security, financial instruments at fair value
Fair value corresponds to market value for the majority of these financial instruments. The fair value of non-exchange-listed financial instruments (in particular for structured credit notes) is determined only on the basis of external traders’ quotes or pricing models which are based on prices and interest rates in an observable, active and liquid market.
Derivative financial instruments
For the majority of the positive and negative replacement values, the fair value equates to the market value. The fair value for derivative instruments without market value is determined using uniform models. These valuation models take account of the relevant parameters such as contract specifications, the market price of the underlying security, the yield curve and volatility.
Valuation methods for financial instruments
The fair value of listed securities held in trading portfolios or as financial instruments, as well as that of listed derivatives and other financial instruments with quotes established in an active market, is determined on the basis of current market value (Level 1). Valuation methods or pricing models are used to determine the fair value of financial instruments if no direct market prices are available. If possible, the underlying assumptions are based on observed market prices or other market indicators as of the balance sheet date (Level 2). For most of the derivatives traded over the counter, as well as for other financial instruments that are not traded in an active market, fair value is determined by means of valuation methods or pricing models. Among the most frequently applied of those methods and models are discounted-cash-flow-based forward pricing and swap models, as well as options pricing models such as the Black-Scholes model or derivations thereof. The fair values arrived at on the basis of these methods and models are influenced to a significant degree by the choice of the specific valuation model and the underlying assumptions applied, for example the amounts and time sequence of future cash flows, discount rates, volatilities and/or credit risks. If neither current market prices nor valuation methods/models based on observable market data can be drawn on for the purpose of determining fair value, then valuation methods or pricing models supported by realistic assumptions derived from actual market data are used (Level 3). Level 3 principally includes investment funds, for which an obligatory net asset value is not published at least on a quarterly basis. The fair value of these positions is, as a rule, computed on the basis of external estimates by experts in relation to the level of the future payout of the fund units, or equates to the acquisition cost of the securities less any applicable valuation haircuts.
Valuation methods for financial instruments
in CHF million at fair value 30.06.2026 | Quoted market prices, Level 1 | Valuation methods based on market data, Level 2 | Valuation methods with assumptions based on market data, Level 3 | Total 30.06.2026 |
Assets | ||||
Cash and cash equivalents | 1,547 | 1,547 | ||
Receivables arising from money market papers | 166 | 166 | ||
Due from banks | 1,348 | 1,348 | ||
Due from customers | 5,839 | 5,839 | ||
Trading portfolios | 1 | 1 | ||
Derivative financial instruments | 48 | 48 | ||
Financial instruments at fair value | 253 | 47 | 300 | |
Financial instruments at amortised cost | 2,048 | 2,048 | ||
Liabilities | ||||
Due to banks | 476 | 476 | ||
Due to customers | 9,334 | 9,334 | ||
Derivative financial instruments | 27 | 27 | ||
Medium-term notes | 76 | 76 | ||
Debentures issued | 152 | 152 |
There were no reclassifications in the first half of 2026.
in CHF million at fair value 31.12.2025 | Quoted market prices, Level 1 | Valuation methods based on market data, Level 2 | Valuation methods with assumptions based on market data, Level 3 | Total 31.12.2025 |
Assets | ||||
Cash and cash equivalents | 1,348 | 1,348 | ||
Receivables arising from money market papers | 157 | 157 | ||
Due from banks | 747 | 747 | ||
Due from customers | 5,992 | 5,992 | ||
Trading portfolios | 1 | 1 | ||
Derivative financial instruments | 25 | 25 | ||
Financial instruments at fair value | 192 | 47 | 239 | |
Financial instruments at amortised cost | 2,018 | 2,018 | ||
Liabilities | ||||
Due to banks | 517 | 517 | ||
Due to customers | 8,561 | 8,561 | ||
Derivative financial instruments | 22 | 22 | ||
Medium-term notes | 76 | 76 | ||
Debentures issued | 152 | 152 |
Level 3 financial instruments | 30.06.2026 | 31.12.2025 |
Balance sheet | ||
Holdings at the beginning of the year | 0.0 | 0.0 |
Investments | 0.0 | 0.0 |
Disposals | 0.0 | 0.0 |
Losses recognised in the income statement | 0.0 | 0.0 |
Gains recognised in the income statement | 0.0 | 0.0 |
Total book value at balance sheet date | 0.0 | 0.0 |
Income on holdings at balance sheet date | ||
Unrealised losses recognised in income from financial instruments | 0.0 | 0.0 |
Unrealised losses recognised as other comprehensive income | 0.0 | 0.0 |
Unrealised gains recognised in income from financial instruments | 0.0 | 0.0 |
Unrealised gains recognised as other comprehensive income | 0.0 | 0.0 |
No deferred day 1 profit or loss (difference between the transaction price and the fair value calculated on the transaction day) was reported for Level 3 positions as of 30 June 2026 or 31 December 2025.
Sensitivity of fair values of Level 3 financial instruments
Changes in the net asset values of investment funds lead to corresponding changes in the fair values of these financial instruments. A realistic change in the basic assumptions or estimated values has no material impact on the statement of income, other comprehensive income or the shareholders’ equity of VP Bank Group.
Equity instruments at fair value through other comprehensive income (FVTOCI)
in CHF 1,000 | Carrying amount | Other comprehensive income |
Balance at the beginning of the financial year | 192,500 | 17,041 |
Reclassification within equity of historically realized losses through December 31, 2025 | 5,245 | |
Additions | 47,428 | |
Fair value gains/losses: | ||
Investments (FVTOCI) held as end of period | 17,380 | 17,380 |
Investments disposed of | 1,801 | 1,801 |
Investments (FVTOCI) disposed of | –10,145 | |
Transfers within equity following disposel | –3,571 | |
Balance 30.06.2026 | 248,964 | 37,896 |
in CHF 1,000 | 30.06.2026 | 31.12.2025 | Variance absolute | Variance in % |
Property and equipment | ||||
Right of use – buildings and premises | 6,158 | 8,124 | –1,966 | –24.2 |
Right of use – motor vehicles | 451 | 451 | 0 | 0.0 |
Total assets | 6,609 | 8,575 | –1,966 | –22.9 |
Remaining duration of up to 1 year | 4,633 | 4,618 | 15 | 0.3 |
Remaining duration of 1 to 5 years | 2,731 | 4,943 | –2,212 | –44.8 |
Remaining duration of over 5 years | 0 | 0 | 0 | n.a. |
Total lease liabilities | 7,364 | 9,561 | –2,197 | –23.0 |
in CHF 1,000 | 01.01.– 30.06.2026 | 01.01.– 30.06.2025 | Variance absolute | Variance in % |
Net interest income | ||||
Interest expenses on lease liabilities | 76 | 113 | –37 | –32.7 |
Depreciation of property and equipment | ||||
Depreciation and impairment on right-of-use assets | 2,113 | 2,124 | –11 | –0.5 |
in CHF 1,000 | 30.06.2026 | 31.12.2025 |
Total contingent liabilities | 120,892 | 94,683 |
Irrevocable facilities granted | 87,240 | 77,508 |
Total fiduciary transactions | 359,977 | 346,293 |
Contract volumes of derivative financial instruments | 6,087,685 | 5,513,372 |
Securities lending and repurchase and reverse-repurchase transactions | ||
Amounts receivable arising from cash deposits in connection with securities borrowing and reverse-repurchase transactions | 400,000 | 0 |
Amounts payable arising from cash deposits in connection with securities lending and repurchase transactions | 0 | 229,998 |
Securities lent out within the scope of securities lending or delivered as collateral within the scope of securities borrowing activities, as well as securities in own portfolio transferred within the framework of repurchase transactions | 528,171 | 589,254 |
of which securities where the unlimited right to sell on or pledge has been granted | 313,988 | 456,237 |
Securities received as collateral within the scope of securities lending or borrowed within the scope of securities borrowing activities, as well as received under reverse-repurchase transactions, where the unlimited right to sell on or further pledge has been granted | 909,150 | 356,003 |
of which securities which have been resold or repledged | 214,183 | 133,017 |
These transactions were conducted under conditions which are customary for securities lending and borrowing activities as well as trades for which VP Bank acts as intermediary.
in CHF million | 30.06.2026 | 31.12.2025 | Variance absolute | Variance in % |
Analysis of client assets under management | ||||
Assets in self-administered investment funds | 14,358.3 | 13,588.4 | 769.9 | 5.7 |
Assets in discretionary asset management accounts | 5,999.6 | 5,446.4 | 553.2 | 10.2 |
Other client assets under management | 36,756.6 | 34,648.8 | 2,107.8 | 6.1 |
Total client assets under management (including amounts counted twice) | 57,114.4 | 53,683.6 | 3,430.8 | 6.4 |
of which amounts counted twice | 2,529.3 | 2,436.5 | 92.7 | 3.8 |
Change of assets under management | ||||
Total client assets under management (including amounts counted twice) at the beginning of the financial year | 53,683.6 | 50,749.2 | 2,934.4 | 5.8 |
of which net new money | 1,394.1 | 1,157.1 | 237.1 | 20.5 |
of which change in market value | 2,036.7 | 1,777.3 | 259.4 | 14.6 |
of which other effects | 0.0 | 0.0 | 0.0 | 0.0 |
Total client assets under management (including amounts counted twice) as of balance sheet date | 57,114.4 | 53,683.6 | 3,430.8 | 6.4 |
Custody assets | 3,873.6 | 4,657.0 | –783.4 | –16.8 |
Total client assets | ||||
Total client assets under management (including amounts counted twice) | 57,114.4 | 53,683.6 | 3,430.8 | 6.4 |
Custody assets | 3,873.6 | 4,657.0 | –783.4 | –16.8 |
Total client assets | 60,988.0 | 58,340.6 | 2,647.4 | 4.5 |
in CHF million | 30.06.2026 | 30.06.2025 | Variance absolute | Variance in % |
Net new money | 1,394.1 | 2,114.6 | –720.5 | –34.1 |
in CHF 1,000 | 30.06.2026 | 31.12.2025 |
Basel IV | Basel IV | |
Total shareholders’ equity | 1,211,149 | 1,176,113 |
Total regulatory deduction | –79,691 | –63,595 |
Eligible core capital (tier 1)1 | 1,131,458 | 1,112,518 |
Total required equity | 347,513 | 340,852 |
Capital buffer | 208,931 | 197,863 |
Total required equity including capital buffer | 556,443 | 538,715 |
Tier 1 ratio1 | 26.0% | 26.1% |
Total risk-weighted assets | 4,343,907 | 4,260,655 |
Return on investment (net income / average balance sheet total) | 0.6% | 0.4% |
1The CET 1 ratio is equal to the core capital ratio (Tier 1) and the total capital ratio of VP Bank Group.