Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — H1 2018 Earnings Presentation
14 slides from Vp Bank Ag Class A's earnings presentation, 2018
Slide 1: 2018 semi-annual results: VP Bank Group in figures
2018 semi-annual results VP Bank Group in figures
Slide 2: VP Bank in the first half of 2018
VP Bank in the first half of 2018 Decline in income and profit growth Group net income of CHF 29.3 million (–6.9%) Lower returns from financial investments Cost/income ratio of 70.3% (64.6%*) Operating expenses remain unchanged Good net new money performance Net new money of CHF 0.6 billion (1.1 bil
Slide 3: Group net income
Group net income •Slight decline in Group net income relative to the previous year •Decline in returns from financial investments, increase in operating income Group net income in CHF million Income statement in CHF million 31.5 First half of First half of First half of 29.3 2016 2017 2018 24.4 Oper
Slide 4: Interest income (in CHF million)
Interest income (in CHF million) •Interest income from clients rose on the back of higher lending volumes; by contrast, the interest 55.0 51.5 expense increased considerably. 47.3 This was due to increased client 12.7 14.0 deposit volumes and higher USD 11.6 interest rates. •The treasury result bene
Slide 5: Commission business and services (in CHF million)
Commission business and services (in CHF million) 64.3 •Transaction-based income 60.7 61.1 increased as a result of higher levels of client activity and the 18.1 corresponding transaction 16.7 17.5 volume. •Portfolio-based income rose further, especially as a result of increased client deposit volum
Slide 6: Operating expenses (in CHF million)
Operating expenses (in CHF million) •Personnel expense increased by 115.5 117.2 6.0%. This was a result of growth 101.5 initiatives which were in line with 9.2 11.7 our strategy. 0.7 10.4 11.3 •In this context, there was also an 29.9 overall increase of 7.6% in 27.8 24.4 general and administrative e
Slide 7: Solid balance sheet as of 30 June 2018 (in CHF billion)
Solid balance sheet as of 30 June 2018 (in CHF billion) 0.3 Due to banks •Client loans increased by 1.4%, Cash and 3.3 especially Lombard loans cash equivalents •Continued high level of liquid assets with a 26% share of total Due from banks 0.8 assets •Financial investments increased by 9.3% 10.9 Cl
Slide 8: Strong balance sheet ratios
Strong balance sheet ratios 31.12.2016 31.12.2017 30.06.2018 Balance sheet total in CHF billion 11.8 12.8 12.6 Risk-weighted assets in CHF billion 3.5 3.8 4.1 Shareholders’ equity in CHF million 936.9 994.2 957.4 Core capital in CHF million 938.5 976.6 927.4 Tier 1 ratio 27.1% 25.7% 22.6% Liquidity
Slide 9: Increase in client assets under management (in CHF billion)
Increase in client assets under management (in CHF billion) •Positive increase of 1.5% in net new money for the first six months •The market performance was by contrast slightly negative •Client assets under management increased by 1.3% 9
Slide 10: Net new money (in CHF billion)
Net new money (in CHF billion) •We have continually generated a positive inflow of net new money 1.1 since second semester 2016. •The recruitment of new client advisors shows positive success. 0.8 •A good inflow of net new money among existing clients was 0.6 registered. •All segments have generated
Slide 11: Segment overview as of 30 June 2018
Segment overview as of 30 June 2018 Client Business Client Business Corporate Konzern Liechtenstein International Center Business volume in CHF1 31.0 billion 15.6 billion – 46.6 billion Net new money in CHF 0.3 billion 0.3 billion – 0.6 billion Pre-tax net income in CHF 54.5 million 4.7 million –26.
Slide 12: Comparison of the VP Bank share including dividend
Comparison of the VP Bank share including dividend 400 350 300 250 200 150 100 50 0 12.2012 12.2013 12.2014 12.2015 12.2016 12.2017 VP Bank LLB EFG Vontobel Julius Bär As of 30 June 2018 12
Slide 13: Summary
Summary Growth in line with strategy •Client advisor recruitment campaign •Net new money Good operative performance •Increase in operating income •Further development of front-office activities and strengthening of the back office Secure and stable Bank •High level of liquid assets •Solid equity and
Slide 14: Contact address and agenda Disclaimer
Contact address and agenda Disclaimer Investor Relations This presentation has been prepared by our employees using sources that we regard as reliable. We have exercised the utmost care in the production of this presentation, Alfred W. Moeckli, Chief Executive Officer which is intended solely for yo