Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — FY2009 Earnings Presentation
41 slides from Vp Bank Ag Class A's earnings presentation, Mar 9, 2010
Slide 1: VP Bank Group Annual report 2009
VP Bank March 9, 2010 VP Bank Group Annual report 2009 March 9, 2010, SIX Swiss Exchange
Slide 2: Programm
Programm 1 Welcoming remarks Hans Brunhart, Chairman of the Board 2 Financial results 2009 Fredy Vogt, Chief Executive Officer a.i. 3 Status and perspectives of VP Bank Group Hans Brunhart, Chairman of the Board 4 Questions & Answers Hans Brunhart and Fredy Vogt 2
Slide 3: Welcoming remarks
Welcoming remarks Hans Brunhart Chairman of the Board 3
Slide 4: Financial results
Financial results Fredy Vogt Chief Executive Officer a.i. 4
Slide 5: Overview of topics
Overview of topics • Profile 2009 • Consolidated income statement • Consolidated balance sheet • Client assets • Segments • Dividend • Summary & Outlook 5
Slide 6: VP Bank Group – profile 2009
VP Bank Group – profile 2009 720.2 CHF 931.9 employees million, CHF 41.8 billion shareholders’ client assets equity CHF 59.8 million consolidated net income Cost/ CHF 101.7 million Income ratio comprehensive 59% income CHF 11.6 billion total assets 6
Slide 7: Consolidated income statement
Consolidated income statement 7
Slide 8: Total operating income
Total operating income 2008 2009 8 in CHF million 3. 1 31 0. 29 8 5 1. 8. 15 5 14 0 3. 1. + 8.2% 12 12 .7 51 .3 .6 30 17 6 0. -4 Interest- Commission Trading Other income Total differential business activities operating business income 8
Slide 9: Other income
Other income in CHF million .7 .3 51 15 30% .4 36 .2 0 .3 0 .6 0 6 . 1 70% Other income Financial Miscellaneous instruments other income 9
Slide 10: Total operating income
Total operating income 2008 2009 8 in CHF million 3. 1 31 0. 29 8 5 1. 8. 15 5 14 0 3. 1. + 8.2% 12 12 .7 51 .3 .6 30 17 6 0. -4 Interest- Commission Trading Other income Total differential business activities operating business income 10
Slide 11: Operating expenses
Operating expenses 2008 2009 in CHF million 7 6. 1 5. 19 18 8 1 1. 4. 13 12 .0 .0 –5.9% 65 61 Personnel General and Operating expenses administrative expenses expenses 11
Slide 12: Depreciation and amortization
Depreciation and amortization 2008 2009 .5 40 in CHF million .4 28 +42.5% Depreciation and amortization 12
Slide 13: Valuation allowances, provisions and losses
Valuation allowances, provisions and losses 2008 2009 in CHF million 1 3. 15 .9 15 –89.6% Valuation allowances, provisions and losses 13
Slide 14: Consolidated net income
Consolidated net income in CHF million 8 .8 3. 59 31 .5 12 .4 56 1 5. 18 Total net Operating Depreciation & Income Consolidated operating expenses amortization, taxes net income income provisions 14
Slide 15: Consolidated balance sheet
Consolidated balance sheet 15
Slide 16: Total assets
Total assets 2008 2009 .6 .4 11 11 in CHF billion +1.9% Total assets 16
Slide 17: Shareholders’ equity
Shareholders’ equity in CHF million 9 .8 1. 59 93 5 5. .7 84 42 .6 .5 –0 5 –1 Shareholders’ Dividend IAS 39 Treasury Conso- Shareholders’ equity distribution reserves shares, LTI and lidated equity 1/1/2009 foreign-currency net 12/31/2009 translation income differences 17
Slide 18: Due from banks
Due from banks 2008 2009 4 02 7' in CHF million 0 32 6' –10.0% Due from banks 18
Slide 19: Due from banks according to rating 2009
Due from banks according to rating 2009 in CHF million 0 32 6 6‘ 1 15 -7 17 BBB 0% 6‘ A 12% 2 6 . 1 .2 0 .3 0 .6 0 AA 71% AAA 17% AAA to BBB Not rated Valuation Total allowances due from banks 19
Slide 20: Due from customers
Due from customers 2008 2009 in CHF million 7 02 5 98 3‘ 2‘ 7% +1.4% 24% .2 0 .3 0 .6 0 6 . 1 69% Due Mortgage Other Without from customers collateral collateral collateral 20
Slide 21: Financial instruments
Financial instruments 12/31/2008 06/30/2009 0 12/31/2009 4. 01 in CHF million 1‘ 6 . 2 .4 2 8 .4 2 8 1 6. 6 88 5 6 0 . .2 2. 5% 9 9 +10.4% 80 7 7 4 4 in comparison to 12/31/2008 10% 85% Financial Debt Equity Trading Instruments securities incl. securities portfolios and credit derivatives derivative
Slide 22: Client assets
Client assets 22
Slide 23: Client assets
Client assets 2008 2009 in CHF billion .8 41 .1 1 8 . 35 . 29% 6 5 2 .5 1 2 .8 6 +19.2% .8 2% 7 1 25% 44% Client assets Client On-balance- Fiduciary Custody securities sheet client deposits assets accounts deposits 23
Slide 24: Client assets under Management
Client assets under Management 2008 2009 in CHF billion .5 .0 .1 29 1 -1 -0 2. .5 28 Client assets Performance Net new money Net new money Client assets under Management outflow outflow under 12/31/2008 1st semester 2nd semester Management 12/31/2009 24
Slide 25: Client assets under management – asset classes
Client assets under management – asset classes 12/31/2008 VP Bank Group as of 12/31/2009 2% 1 8 . . 6 5 .5 1 2 2 .8 6 20% 2% 37% Liquidity .8 17% 7 1 Bonds 41% Equities 15% Investment funds 17% Other 25% 24% 25
Slide 26: Segments
Segments 26
Slide 27: Overview of segments as of 12/31/2009
Overview of segments as of 12/31/2009 Private Interme- Banking Corporate * in CHF Banking Group diaries Services Center Clients Group net result 35.1 mn 61.5 mn –40.7 mn 16.4 mn 72.4 mn before tax* Client assets 13.4 bn 15.9 bn 0.0 bn 0.2 bn 29.5 bn under management* Headcount 235.1 109.5 264.1 111.
Slide 28: Private Banking Clients
Private Banking Clients in CHF 2008 2009 Variance Total net operating income 159.4 mn 131.1 mn –17.8% Operating expenses 98.9 mn 86.1 mn –13.0% Depreciation & amort., val. 13.4 mn 9.9 mn –26.1% allowances, provisions, losses Group net result before tax 47.1 mn 35.1 mn –25.4% Net New Money –1.0 bn –0
Slide 29: Intermediaries
Intermediaries in CHF 2008 2009 Variance Total net operating income 126.1 mn 104.3 mn –17.3% Operating expenses 42.1 mn 38.0 mn –9.6% Depreciation & amort., val. 8.9 mn 4.8 mn –46.9% allowances, provisions, losses Group net result before tax 75.1 mn 61.5 mn –18.0% Net New Money –0.3 bn –0.4 bn n. a.
Slide 30: Banking Services
Banking Services in CHF 2008 2009 Variance Total net operating income 20.2 mn 15.0 mn –25.5% Operating expenses 17.2 mn 25.3 mn +47.5% Depreciation & amort., val. 19.4 mn 30.4 mn +56.6% allowances, provisions, losses Group net result before tax –16.4 mn –40.7 mn n. a. 30
Slide 31: Corporate Center
Corporate Center in CHF 2008 2009 Variance Total net operating income –15.6 mn 63.4 mn n. a. Operating expenses 38.6 mn 35.6 mn –7.6% Depreciation & amort., val. 139.8 mn 11.3 mn –91.9% allowances, provisions, losses Group net result before tax –194.0 mn 16.4 mn n. a. 31
Slide 32: Dividend
Dividend 32
Slide 33: Dividend
Dividend 2008 2009 in CHF million in CHF .4 5 57 3. 5 2. .7 20 Group net income Dividends Dividend per bearer share attributable to the shareholders of VP Bank 33
Slide 34: Dividend yield
Dividend yield 9% 9% 3. 3. 5% 3. 1% 3. 8% 1. 2005 2006 2007 2008 2009 34
Slide 35: Summary & Outlook
Summary & Outlook 35
Slide 36: VP Bank Group – key financial indicators
VP Bank Group – key financial indicators 2008 2009 Tier 1 ratio 13.6% 17.1% Cost/Income ratio 67.8% 59.0% Value-at-Risk in CHF million 65.4 34.1 Group net result per bearer share CHF –14.32 9.97 36
Slide 37: VP Bank Group – summary 2009
VP Bank Group – summary 2009 Reduction Stabilized of risks volume of client assets in 2nd Cost semester savings Positive effects in financial investments Income CHF 59.8 million 37
Slide 38: VP Bank Group – goals and outlook for 2010
VP Bank Group – goals and outlook for 2010 Cost/income Strategy ratio approx. 50% Strengthening Gross margin of market of 100 bp Tier 1 ratio position of over 16% Increase of Cost operating awareness results 38
Slide 39: Status and perspectives of VP Bank Group
Status and perspectives of VP Bank Group Hans Brunhart Chairman of the Board 39
Slide 40: Questions and Answers
Questions and Answers 40
Slide 41: 41
41