Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — FY2015 Earnings Presentation
17 slides from Vp Bank Ag Class A's earnings presentation, 2016
Slide 1: Results presentation – financial year 2015
Results presentation – financial year 2015 VP Bank Group in figures
Slide 2: Profile & summary
Profile & summary Profile as at 31 December 2015 Summary as at 31 December 2015 Total shareholders’ equity CHF 918.1 million Net income CHF 64.1 million Headcount 734 (FTE) Net new money Client assets CHF 42.9 billion CHF 6.0 billion Ongoing efficiency gains Increase in Group net income by 202.7% co
Slide 3: VP Bank Group – summary
VP Bank Group – summary Growth in line with strategy • Merger with Centrum Bank • Inflow of net new money in our growth markets Strong operative performance • Integration of Centrum Bank • Using of Group synergies • Further development of front-office activities Secure and stable Bank • Increase in
Slide 4: Income statement
Income statement 2013 2014 2015 in CHF million Gross income 239.4 222.7 306.6 Operating expenses –168.0 –165.3 –182.1 Depreciation and provisions –33.4 –36.8 –64.3 Taxes –2.3 –0.6 3.9 Discontinued companies 3.0 0.0 0.0 Group net income 38.7 20.0 64.1 4
Slide 5: Interest business
Interest business in CHF million 86.9 84.5 65.6 • Volume and margin increase in client 8.5 23.4 lending 27.4 26.3 • Reduction in interest expense in client deposits • Low interest-rate environment and 65.4 negative SNB interest rate impact on 52.0 54.1 treasury result • Introduction of hedge account
Slide 6: Interest business
Interest business in CHF million 47.3 41.6 • Volume increase and margin 31.5 improvement in client business 26.2 32.1 • Introduction of hedge 26.2 accounting in order to reduce volatility 12.9 13.7 13.9 8.2 –4.4 –8.4 1st half of 2013 1st half of 2014 1st half of 2015 Clients Treasury Interest rate h
Slide 7: Commission business and services
Commission business and services in CHF million 126.4 • Increase resulting from the acquisition of 118.4 114.1 client assets under management at 35.9 Centrum Bank 36.7 34.8 • Appreciation of the Swiss franc cuts earnings base • Restrained transaction volume 90.5 79.3 81.7 2013 2014 2015 Transaction-
Slide 8: Operating expenses
Operating expenses in CHF million 182.1 168.0 165.3 • Integration and restructuring costs resulting from the Centrum Bank 60.2 merger and integration 46.0 46.8 • Cost reductions as a result of using Group synergies • Reduction in personnel costs as a result of IAS 19 122.0 118.5 121.9 2013 2014 2015
Slide 9: Sound balance sheet as at 31 December 2015
Sound balance sheet as at 31 December 2015 0.1 Due to banks in CHF billion Cash and cash equivalents 3.0 • Increase in total assets as a result of the Centrum Bank merger Due from banks 2.1 • Marked increase in client lending and deposits, as well as financial 10.8 Client deposits instruments • High
Slide 10: Solid and strong balance sheet ratios
Solid and strong balance sheet ratios 31.12.2013 31.12.2014 31.12.2015 Total assets in CHF billion 11.2 11.2 12.4 Risk-weighted assets in CHF billion 4.1 4.2 3.7 Equity in CHF million 888.7 868.5 918.1 Core capital in CHF million1 840.8 860.5 910.9 Tier 1 ratio1 20.4% 20.5% 24.4% Leverage ratio2 7.5
Slide 11: Client assets
Client assets in CHF billion 43.0 39.4 38.5 8.2 9.0 7.6 Custody assets 34.8 Client assets under 30.4 30.9 management 31.12.2013 31.12.2014 31.12.2015 11
Slide 12: Increase in client assets under management
Increase in client assets under management in CHF billion 12
Slide 13: Minimal changes in asset classes / currencies
Minimal changes in asset classes / currencies 2013 2014 2015 2% 3% 3% Asset classes 25% 31% 25% 30% 32% 27% Liquidity Bonds Equities Funds 21% Other 20% 21% 20% 20% 20% 2013 2014 2015 13% 13% 13% 26% 26% 26% Currencies CHF EUR 24% USD 27% 31% Other 30% 37% 34% 13
Slide 14: Segment overview as of 31 December 2015
Segment overview as of 31 December 2015 Client Client Corporate Business Business Group Center Liechtenstein International Business volume in CHF1 28.4 billion 11.3 billion – 39.8 billion Net new money in CHF 5.8 billion 0.2 billion – 6 billion Pre-tax net income in CHF 77.2 million –2.6 million –14
Slide 15: Dividends
Dividends Dividends in CHF Payout ratio 4.01 3.5 87.9% 3.0 53.2% 39.3%1 2013 2014 2015 2013 2014 2015 1 Proposal to the annual general meeting 15
Slide 16: Constant high dividend yield
Constant high dividend yield 2009 2010 2011 2012 2013 2014 2015 16
Slide 17: 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