Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — H1 2010 Earnings Presentation
18 slides from Vp Bank Ag Class A's earnings presentation, Aug 31, 2010
Slide 1: VP Bank Group Semi-annual report 2010
VPBank August31,2010 VPBankGroup Semi-annualreport2010 August31,2010,SIXSwissExchange Program 1 Welcoming remarks HansBrunhart,ChairmanoftheBoard 2 Financialresults 2010 FredyVogt,Chief FinancialOfficer 3 Wherewestand HansBrunhart,ChairmanoftheBoard 4 Expectations&outlook RogerH.Hartmann,ChiefExecut
Slide 2: Welcoming remarks / Financial results
Welcomingremarks HansBrunhart ChairmanoftheBoard 3 Financialresults Fredy Vogt ChiefFinancialOfficer 4 2
Slide 3: VP Bank Group – profile as at June 30, 2010
Overviewoftopics • ProfileasatJune30,2010 • Consolidatedincomestatement • Consolidatedbalancesheet • Clientassets • Segments • Summary&outlook 5 VPBankGroup– profileasatJune30,2010 714.7 CHF930 employees million CHF40.5 billion shareholders’ clientassets equity CHF16.1million consolidated netincome
Slide 4: Consolidated income statement
Consolidated income statement 7 Totaloperatingincome 06/30/2009 06/30/2010 1 5. inCHFmillion 6 14 5. 13 .8 .9 .4 66 63 60 –6.5% .3 37 .8 25 .4 11 6 5 8. 6. Interest- Commission Trading Otherincome Total differential business activities operating business income 8 4
Slide 5: Operating expenses
Operatingexpenses 06/30/2009 06/30/2010 inCHFmillion .2 .2 93 90 .4 .7 61 58 –3.2% .8 .5 31 31 Personnel Generaland Operating expenses administrative expenses expenses 9 Depreciationandamortization 06/30/2009 06/30/2010 inCHFmillion .0 .9 20 18 +5.8% Depreciationand amortization 10 5
Slide 6: Consolidated net income
Valuationallowances,provisionsandlosses 06/30/2009 06/30/2010 inCHFmillion 6 7. 1 4. +84.7% Valuationallowances, provisionsandlosses 11 Consolidatednetincome inCHFmillion 6 .1 5. 16 13 .5 8 27 1. .2 90 Totalnet Operating Depreciation & Income Consolidated operating expenses amortization, taxes net i
Slide 7: Consolidated balance sheet
Consolidated balance sheet 13 Totalassets 12/31/2009 06/30/2010 .6 .4 11 inCHFbillion 11 –2.0% Totalassets 14 7
Slide 8: Shareholders' equity
Shareholders’ equity inCHFmillion 9 0 .1 1. 0. 16 93 93 0 2 3. 0. 2 1. –2 Shareholders’ Dividend IAS39 Treasury Conso- Shareholders’ equity distribution reserves shares,LTIand lidated equity 01/01/2010 foreign-currency net 06/30/2010 translation income differences 15 Duefrombanks 12/31/2009 06/30/20
Slide 9: Due from customers
Duefromcustomers 12/31/2009 06/30/2010 inCHFmillion 6 13 7 02 3‘ 3‘ 6% +3.6% 25% .0 3 .0 6 6 . 1 69% Due Mortgage Other Unsecured from customers collateral collateral 17 Clientassets 18 9
Slide 10: Client assets
Clientassets 12/31/2009 06/30/2010 .8 inCHFbillion .5 41 40 1 8 . . 6 30% 5 2 .5 1 2 .8 6 –3.1% 2% .8 7 1 24% 44% Clientassets Client On-balance- Fiduciary Custody securities sheet client deposits assets accounts deposits 19 Clientassetsundermanagement 12/31/2009 06/30/2010 inCHFbillion .8 .5 .3 .4
Slide 11: Client assets under management – asset classes
Clientassetsundermanagement– assetclasses 12/31/2009 VPBankGroupasat06/30/2010 1 3% 8 . . 6 5 5 1 . 2 2 8 6 . 21% 2% 35% Liquidity .8 7 20% 1 37% Bonds Equities 17% Investmentfunds 17% Other 24% 24% 21 Segments 22 11
Slide 12: Overview of segments as at June 30, 2010
OverviewofsegmentsasatJune30,2010 Private Interme- Banking Corporate *inCHF Banking Group diaries Services Center Clients Groupnetresult 23.9mn 28.1mn –27.9mn –6.2mn 17.9mn beforetax* Clientassets 14.2bn 13.7bn 0.0bn 0.4bn 28.4bn under management* Headcount 262.2 102.4 217.2 132.9 714.7 (full-time e
Slide 13: VP Bank Group – key financial indicators
VPBankGroup– keyfinancialindicators 12/31/2009 06/30/2010 Tier1ratio 17.1% 18.7% Cost/income ratio 59.0% 66.5% Value-at-risk inCHFmillion (market 34.1 26.7 risk) GroupnetresultperbearershareCHF 9.97 2.52 25 VPBankGroup– summary2010 Netincome Clientassets 16.1mn stabilized Solidequity base Cost goals
Slide 14: Where we stand / Expectations & outlook
Where we stand HansBrunhart ChairmanoftheBoard 27 Expectations&outlook RogerH.Hartmann ChiefExecutiveOfficer 28 14
Slide 15: Point of departure
Pointofdeparture • Enormousamountof“humancapital”,manageablesize • Organizationlackssufficientclientandmarketingorientation; internalprocessesaretoocomplicated hindersmany talentedandmotivatedemployeesfromworkingefficiently andinatargetedmanner • Unsatisfactoryfirst-halfresults • Keepingclientassets
Slide 16: Initiatives (1/2)
IGTIntergestionsTrust GroupInternalAudit reg. CEO&HeadofMarkets RogerH.Hartmann WealthManagement CFO&CorporateCenter Solutions&Services ChiefofStaff& FredyVogt JuergW.Sturzenegger Corporate Development BankingLiechtenstein PrivateBanking PrivateBanking &RegionalMarket International Asia-Pacific Geor
Slide 17: Initiatives (2/2)
Initiatives(2/2) Heightenefficiency,reducecostsandspurcost-consciousness • Criticallyexaminerangeofservicesandstreamlineitina targetedmanner • Improveservicingpracticesandproductivity: faster,leaner,moreeffective • Intensifycostcontrolling • Reducepersonnelcoststhroughrestrictiveapproach torecruitin
Slide 18: Questions and Answers
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