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VP Bank and Centrum Bank are merging

Continuing its reliance on growth through acquisitions, VP Bank Group is to take over Centrum Bank of Vaduz, Liechtenstein, in a merger. VP Bank plans to take over all Centrum Bank shares in January 2015 and to execute the merger in the ensuing months. The Marxer Foundation for Bank Values, currently the sole shareholder of Centrum Bank, is acquiring an interest in VP Bank at the purchase price and is thus becoming an anchor shareholder. The transaction will increase VP Bank Group’s client assets by about CHF 6 billion, to CHF 46 billion, and its new balance sheet total will be approximately CHF 13 billion. There will be no significant reduction in VP Bank’s capitalisation, which is above average (a tier 1 ratio of 20.7% as of 30 June 2014).

01.12.14

Distinguished: Annual Report 2013 of VP Bank Evidences Quality

The 2013 annual report of VP Bank Group is one of the 12 highest-rated annual reports from Switzerland and Liechtenstein.

01.10.14

Half-year results of VP Bank Group

VP Bank Group reported consolidated net income of CHF 11.1 million in the first half of 2014. It also recorded increases in client assets as well as adjusted total operating income. VP Bank’s robust capital adequacy provides a solid foundation for continuing its long-term growth strategy.

26.08.14

Preliminary information: VP Bank Group expects a significant fall in Group net income for the first half of 2014

Declining interest rates mean that VP Bank can expect a significantly lower net income for the first half of 2014 compared to the prior-year period. Since VP Bank does not apply hedge accounting, any value adjustments on interest rate hedging transactions which affect net income will also have an impact on the semi-annual result.

18.06.14

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