Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — FY2019 Earnings Presentation
14 slides from Vp Bank Ag Class A's earnings presentation, 2020
Slide 1: 2019 Annual results: VP Bank Group in figures
2019 Annual results VP Bank Group in figures
Slide 2: 2019 annual results
2019 annual results Impressive rise in Significantly higher client assets under group net income Strong growth in management net new money Sound equity capital 2
Slide 3: Strong growth – positive financial market momentum
Strong growth – positive financial market momentum Net group income Tier 1 ratio CHF 73.5 million 20.2% CHF 54.7 million in 2018 20.9% in 2018 Strong commission and Comfortable capital trading income Continued strong provisioning Growth initiatives net inflow of new and good money Extremely operatin
Slide 4: Strong rise in earnings, 34% higher
Strong rise in earnings, 34% higher Group net income (CHF million) Income statement (CHF million) 2017 2018 2019 Operating income 300.1 290.8 327.8 Operating expenses -229.7 -232.3 -244.8 Taxes -4.6 -3.8 -9.4 Net group income 65.8 54.7 73.5 One-off effects 0.81 0.0 0.0 Adjusted group net income 66.6
Slide 5: Operative income figures show gains
Operative income figures show gains Operating income (CHF million) • Interest income CHF 4.1 million or 3.7% higher 327.8 • Interest income from customer loans significantly increased, but also 300.1 higher interest expenses 290.8 14.6 21.5 • Interest income from the treasury edged lower 0.7 61.0 •
Slide 6: Higher personnel expenses – reversal of valuation adjustments
Higher personnel expenses – reversal of valuation adjustments Operating expenses (CHF million) • Personnel expenses CHF 7.7 million or 4.9% higher • Higher average workforce 229.7 232.3 244.8 • General & administrative expenses CHF 6.6 million or -10.5% lower 13.3 25.1 29.3 • Rise in the cost of inf
Slide 7: Rise in total assets through organic and acquisition-driven growth
Rise in total assets through organic and acquisition-driven growth Balance sheet as at 31 December 2019 (CHF billion) • Sound assets 0.4 Bank liabilities • High liquidity position Liquid assets 2.9 • 9.7% rise in client lending, above all Lombard loans Bank receivables 0.7 • Stable refinancing • Cli
Slide 8: Equity capital requirements comfortably exceeded
Equity capital requirements comfortably exceeded 31 December 2017 31 December 2018 31 December 2019 Risk-weighted assets in CHF billion 3.8 4.5 4.8 Core capital (CET 1) in CHF million 976.6 942.8 979.0 Tier 1 ratio (CET 1 ratio) 25.7% 20.9% 20.2% Liquidity coverage ratio (LCR) 161% 143% 213% Leverag
Slide 9: Client assets rise thanks to new money and market performance
Client assets rise thanks to new money and market performance Client assets under management (CHF billion) • Client assets under management increase by 14.7% • Net inflow of client assets total CHF 3.2 billion or 7.7% • Positive market performance 9
Slide 10: International activities as engine of growth
International activities as engine of growth Net new money incl. acquisitions (CHF billion) • Strong inflow during the first half of the year – both organic as well as through acquisitions 3.2 3.2 • Good inflows thanks to recruitment of new client advisors • Good net inflow from existing clients, de
Slide 11: Geographical diversification continues apace
Geographical diversification continues apace Segment overview as at 31 December 2019 Client Business Client Business Corporate Group Liechtenstein International Center Business volumes in CHF1 31.1 billion 23.3 billion – 54.4 billion Client assets under management in 26.9 billion 20.7 billion - 47.6
Slide 12: VP Bank share price performance in comparison
VP Bank share price performance in comparison 300 250 VP Bank 200 LLB 150 Vontobel 100 Julius Bär EFG 50 0 01.2016 01.2017 01.2018 01.2019 01.2020 12
Slide 13: Summary
Summary Growth in line with strategy • Front-office recruitment initiative • Strong net inflows of new money Robust operating performance • Higher revenues (interest, commission and trade) Two positive factors of influence • Very good result from financial assets and reversal of valuation adjustment
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, Paul H. Arni, Chief Executive Officer which is intended solely for your in