Vp Bank Ag Class A · SIX:VPBN
Vp Bank Ag Class A — FY2016 Earnings Presentation
17 slides from Vp Bank Ag Class A's earnings presentation, 2017
Slide 1: Results presentation – 2016
Results presentation – 2016 VP Bank Group in figures
Slide 2: Profile & summary
Profile & summary Profile as at 31 December 2016 Summary as at 31 December 2016 Total shareholders’ equity CHF 936.9 million Net income CHF 58.0 million Increase in revenues Headcount 738 (FTE) and cost reduction due to utilization Good inflow Client assets CHF 41.5 billion of Group of net new syner
Slide 3: VP Bank Group – summary for 2016
VP Bank Group – summary for 2016 Growth in line with strategy • Good inflow of new money in our growth markets Strong operative performance • Increase in revenues • Reduction of costs as a result of using synergies Secure and stable Bank • High level of liquid assets • Solid equity and strong tier 1
Slide 4: VP Bank in 2016 (1/2)
VP Bank in 2016 (1/2) Strong adjusted Group net income (+90%) • Revenue increase in a challenging market environment Group net income CHF 58.0 million • Cost decreases following implementation of further synergies from fusion with Centrum Bank Significant improvement of the inflow of net new money •
Slide 5: VP Bank in 2016 (2/2)
VP Bank in 2016 (2/2) • Risk-weighted assets significantly reduced and liquidity strengthened • Additional share buyback programme launched • Excellent Standard & Poor’s rating – high security and stability Conversion of bearer shares into registered shares A Tier 1 ratio 27.1% Shareholders’ equity
Slide 6: Adjusted Group net income rises significantly
Adjusted Group net income rises significantly in CHF million 64.1 • Significant improvement in adjusted 58.0 One-off effect Group net income over the last owing to three years fusion with • Increase in revenues Centrum Bank and IAS 19 • Active cost management 30.6 • Increase of 90% in 2016 20.0 2014
Slide 7: Income statement
Income statement in CHF million 2014 2015 2016 Operating income 222.7 306.6 273.2 Operating expenses –202.1 –246.4 –212.2 Taxes –0.6 3.9 –3.0 Group net income 20.0 64.1 58.0 7
Slide 8: Interest business
Interest business in CHF million 102.4 88.4 27.6 • Volume increase in client lending 65.6 24.5 and expansion of margins 20.4 • Negative interest rate and decrease in client deposits 72.1 76.6 • Active treasury management and 61.2 optimisation of risk/return profile of the balance sheet –8.2 –16.0 –1
Slide 9: Commission business and services
Commission business and services in CHF million 126.4 118.4 118.8 • Volatile financial markets 35.9 and client uncertainty 36.7 33.2 • Restrained transaction volume 90.5 85.6 81.7 2014 2015 2016 Transaction-based income Portfolio-based income 9
Slide 10: Operating expenses
Operating expenses in CHF million 246.4 212.2 202.0 26.0 • No further integration costs in 2.8 7.4 38.3 22.4 connection with the merger with 29.3 Centrum Bank 51.7 • Cost reduction as a result of using 60.2 46.8 synergies • Expansion of front-office activities 135.3 118.5 121.9 2014 2015 2016 Person
Slide 11: Sound balance sheet as at 31 December 2016
Sound balance sheet as at 31 December 2016 in CHF billion 0.4 Due to banks Cash and cash equivalents 3.5 • Reduction of balance sheet total Due from banks 0.7 • Increase in client lending 10.1 Client deposits • High level of liquid assets and significant decrease in amounts Client loans 5.2 due from
Slide 12: Sound balance sheet and strong balance sheet ratios
Sound balance sheet and strong balance sheet ratios 31.12.2014 31.12.2015 31.12.2016 Balance sheet total in CHF billion 11.2 12.4 11.8 Risk-weighted assets in CHF billion 4.2 3.7 3.5 Equity in CHF million 868.5 918.1 936.9 Core capital1 in CHF million 860.5 911.2 938.5 Tier 1 ratio1 20.5% 24.4% 27.1
Slide 13: Increase in client assets under management
Increase in client assets under management in CHF billion • Positive development of inflow of net new money • Significant inflows in Asia • Outflows in Europe due to regulatory environment • Decline in client deposits in the balance sheet had a partially negative effect on the inflow of net new mone
Slide 14: Minimal changes in asset classes / currencies
Minimal changes in asset classes / currencies 2014 2015 2016 3% 3% 3% Asset classes 25 % 30 % 29 % 32 % 27 % 27 % Liquidity Bonds Equities Funds Other 20 % 20 % 20 % 20 % 20 % 21 % 2014 2015 2016 13 % 13 % 13 % 26 % 26 % Currencies 26 % CHF EUR USD 33 % 27 % 31 % Other 30 % 28 % 34 % 14
Slide 15: Segment overview as of 31 December 2016
Segment overview as of 31 December 2016 Client Client Corporate Business Business Group Center Liechtenstein International Business volume in CHF1 28.9 billion 12.1 billion – 41.0 billion Net new money in CHF –0.2 billion 0.2 billion – 0.0 billion Pre-tax net income in CHF 94.7 million 2.3 million –
Slide 16: Dividends
Dividends Dividends in CHF Payout ratio Dividend yield 4.51 4.9% 4.0 87.9% 4.2%1 3.0 3.5% 46.8%1 39.9% 2014 2015 2016 2014 2015 2016 2014 2015 2016 1 Proposal to the annual general meeting. 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