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.


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.


Annual general meeting of VP Bank: all proposals approved

All proposals made by the Board of Directors were approved at the 51st ordinary annual general meeting of VP Bank in Vaduz. Dr Beat Graf and Michael Riesen were elected for the first time as members of the Board of Directors. The proposals to change the Bank’s name to “VP Bank AG” and to distribute a considerably higher dividend were approved.


VP Bank is not affected by Error in openSSL encryption software

The media are currently reporting that an error in the widely used openSSL encryption software has enabled unauthorised third parties to copy confidential data required for many online services. We would like to stress that VP Bank e-banking has not been affected by this security vulnerability.


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