All proposals made by the Board of Directors were approved at the 50th annual general meeting of VP Bank in Vaduz. Dr Guido Meier and Markus Thomas Hilti were re-elected as members of the Board of Directors for a further period of three years.

VP Bank Group posted a significant increase in consolidated net income to CHF 47.2 million in 2012. Earnings were up 8 per cent, while costs were down 14.5 per cent. In the past financial year, VP Bank saw a net outflow of client money amounting to CHF 65 million. At the annual general meeting, the Board of Directors will propose a dividend of CHF 2.50 per bearer share and CHF 0.25 per registered share.

VP Bank Group expects to report clearly higher 2012 annual results than in the previous year. Client assets under management increased due to market factors.

The Board of Directors of Verwaltungs- und Privat-Bank Aktiengesellschaft has elected Alfred W. Moeckli to become Chief Executive Officer (CEO) of VP Bank Group. He will take over his new function as of 1 May 2013.