Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — H1 2019 Earnings Presentation
13 slides from Vp Bank Ag Class A's earnings presentation, Nov 11, 2019
Slide 1: 2019 Semi-annual results: VP Bank Group in figures
2019 Semi-annual results VP Bank Group in figures
Slide 2: All key figures are pointing upwards
All key figures are pointing upwards Market environment and growth initiatives are having a positive impact on results 30.06.2018 30.06.2019 Group net income CHF 29.3 million CHF 35.3 million Above-average income growth Cost / income ratio 70.3% 68.6% Back below the long-term target of 70% Net new m
Slide 3: Profitability rose substantially
Profitability rose substantially • 20% higher Group net income in the first half of 2019 • Above-average income growth set against only moderately higher costs Adjusted Group net income in CHF million Income statement in CHF million 35.3 31.5 1st half of 1st half of 1st half of 29.3 2017 2018 2019 O
Slide 4: Income growth thanks to increase in commission and trading activities
Income growth thanks to increase in commission and trading activities Operating income in CHF million • Interest income down CHF 0.4 million, or 0.7% • Interest income from clients was increased • Interest income from treasury activities fell 162.7 • Commission income up CHF 2.7 million, or 4.3% 151
Slide 5: Personnel expense increased as a result of recruiting effort
Personnel expense increased as a result of recruiting effort Operating expenses in CHF million • Personnel expense up CHF 8.3 million, or 11.2% • Headcount has increased by 5.8% since 30 June 2018 to 876 full-time employees 122.7 • General and administrative expenses down CHF 0.6 million, or 2.1% 11
Slide 6: Increase in total assets as a result of organic growth and acquisitions
Increase in total assets as a result of organic growth and acquisitions Balance sheet as of 30 June 2019 in CHF billion • Stable assets • High level of liquid assets 0.4 Due to banks • Client loans up by 7.5%, with Catella accounting for 1.5% • Financial instruments up 3.8% Cash and cash 2.6 • Stabl
Slide 7: Capital adequacy requirements well exceeded
Capital adequacy requirements well exceeded 31.12.2017 31.12.2018 30.06.2019 Risk-weighted assets in CHF billion 3.8 4.5 4.7 Core capital (CET 1) in CHF million 976.6 942.8 932.1 Tier 1 ratio (CET 1 ratio) 25.7% 20.9% 19.7% Liquidity coverage ratio (LCR) 161.0% 142.6% 173.4% Leverage ratio 7.5% 7.3%
Slide 8: Client assets under management increase despite negative environment
Client assets under management increase despite negative environment Client assets under management in CHF billion • Increase in client assets under management of 9.9% • Net inflow of client assets totaling CHF 2.2 billion, or 5.2% • Positive market performance • Client assets including custody asse
Slide 9: International business as driver of growth
International business as driver of growth Net new money (including acquisitions) in CHF billion • Strong inflows in the first half of the year – both organic and as a result of acquisitions 2.6 • Solid inflows thanks to recruitment of new relationship managers 2.2 • Catella acquisition brought VP B
Slide 10: Geographic diversification proceeding
Geographic diversification proceeding Segment overview as of 30 June 2019 Client Business Client Business Corporate Group Liechtenstein International Center Business volume in CHF1 30.2 billion 22.1 billion – 52.3 billion Client assets under management in CHF 26.0 billion 19.6 billion – 45.6 billion
Slide 11: Comparison of VP Bank share price performance
Comparison of VP Bank share price performance 450 400 350 300 EFG 250 Julius Bär 200 Vontobel LLB 150 VP Bank 100 50 0 31.12.2012 31.12.2013 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018 11
Slide 12: Summary
Summary Growth strategy is bearing fruit • Net new money inflows from new and current client advisors • Successful acquisition of clients of Catella Bank in Luxembourg Good operative performance • Increase in operating income • Cost-saving measures initiated Secure and stable Bank • High level of li
Slide 13: 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, Dr Urs Monstein, Chief Executive Officer a.i., Chief Operating Officer whi