Preliminary information of VP Bank Group: Stable result in a challenging market environment, continued net new money growth, lower group net income
For the 2020 financial year, VP Bank expects a stable result in line with the development of the market environment and continued net new money growth. As a result of the value adjustment on an individual position in the credit portfolio communicated in the spring of 2020, a reduced consolidated group net income of approximately CHF 41.6 million is to be expected compared to the previous year.
The 2021 International Classical Music Awards will be held in Liechtenstein, thanks to VP Bank.
The International Classical Music Awards (ICMA) are among Europe’s most prestigious prizes for classical music. With the support of VP Bank, the awards ceremony will be held in Liechtenstein this year.
The signs for the investment year 2021 are in favour of a recovery despite the pandemic. We have increased the strategic equity quota at the beginning of this year but are prepared for setbacks thanks to alternative assets.
VP Bank in Singapore Awarded Best Private Bank Intermediary Services in Asian Private Banker Awards for Distinction 2020
VP Bank Ltd Singapore Branch has been awarded ‘Best Private Bank – Intermediary Services’ in the Asian Private Banker Awards for Distinction 2020. The win is testament to the bank’s long-standing expertise and commitment to financial intermediaries across the Asia-Pacific region.
VP Bank (Luxembourg) SA completes acquisition of Private Banking of Öhman Bank S.A. in Luxembourg
As of 1 January 2021, the acquisition of the client business of the Luxembourg-based Private Bank Öhman Bank S.A. by VP Bank (Luxembourg) SA was completed. The acquisition was announced on 8 July 2020.
VP Bank puts its focus on digital technologies with new IT strategy
VP Bank has adopted its IT strategy as an important milestone in the implementation of the previously communicated Strategy 2026. The measures are aimed at further advancing the digital transformation in order for the Bank to become a wealth management service provider. To operate its IT infrastructure, VP Bank is relying on a strategic partnership with a specialised external technology company and service provider.