VP Bank AG Class A · SIX:VPBN
VP Bank AG Class A — Shareholder Meeting (April 2006)
33 slides from VP Bank AG Class A's shareholder meeting presentation, Apr 28, 2006
Slide 1: Welcome to the Annual Shareholders Meeting
Welcome to the Annual Shareholders Meeting April 28, 2006
Slide 2: Hans Brunhart, Chairman of the Board of Directors
Hans Brunhart Chairman of the Board of Directors 2
Slide 3: Agenda
Agenda 1. Approval of annual report and financial statements 2. Appropriation of available earnings (parent Bank, Vaduz) 3. Discharge of members of the Board of Directors 4. Elections 5. Miscellaneous matters 3
Slide 4: Agenda item 1
Agenda item 1 1. Approval of annual report and financial statements (balance sheet, income statement, notes and commentary on operations) of the VP Bank Group and the parent Bank in Vaduz for the 2005 financial year Acknowledgement of the reports of the Group auditors and statutory auditors 4
Slide 5: Adolf E. Real, Chief Executive Officer
Adolf E. Real Chief Executive Officer 5
Slide 6: Profile of 2005
Profile of 2005 CHF 30.1 billion 565.5 client assets employees under management CHF 121.7 million net income CHF 926.1 million equity CHF 8.2 billion total assets 6
Slide 7: Consolidated income statement
Consolidated income statement 7
Slide 8: Operating income
Operating income 2004 2005 297.0 in CHF million 259.7 144.3 +14.4 % 122.4 114.7 97.3 20.9 20.9 19.1 17.1 Interest Commission Trading Other Total operating business business activities income income, net 8
Slide 9: Operating expenses
Operating expenses 2004 2005 in CHF million 134.5 125.9 92.2 84.9 +6.8 % 42.3 41.0 Personnel Gen. & admin. Operating expenses expenses expenses 9
Slide 10: Depreciation and amortization
Depreciation and amortization 2004 2005 in CHF million 23.1 18.6 -19.3 % Depreciation and amortization 10
Slide 11: Valuation allowances and provisions
Valuation allowances and provisions 2004 2005 in CHF million 10.2 8.1 -20.8 % Valuation allowances and provisions 11
Slide 12: Net income
Net income in CHF million 297.0 121.7 4 . 0 6 .2 1 9 2 14.0 26.7 134.5 .7 0 1 0 .5 2 3 . 6 2 1 Total operating Operating Depreciation & Taxes Net income income, net expenses amortization 12
Slide 13: Consolidated balance sheet
Consolidated balance sheet 13
Slide 14: Total assets
Total assets 2004 2005 in CHF billion 8.2 7.9 +4.4 % Total assets 14
Slide 15: On-balance-sheet client deposits
On-balance-sheet client deposits 2004 2005 in CHF billion 7.1 6.8 +3.6 % Bilanzwirksame On-balance-sheet Kundengelder client deposits 15
Slide 16: Shareholders' equity
Shareholders’ equity 926.1 in CHF million 121.7 .8 0 9 7 .2 1 9 804.2 .2 4 7 .6 9 -2 -35.5 20.5 15.2 .0 5 -1 Equity Dividend Forex differences IAS 39 Net income Equity 01.01.2005 distribution on translation of reserves 31.12.2005 Treasury shares 16
Slide 17: Due from clients
Due from clients 2004 2005 in CHF billion 2.8 2.7 7 6 . .2 0 . 2 8% 2 .3 0 .6 0 6% 6 . 26 % 1 +2.9 % 60 % Due from clients Mortgage credits Other collateral Credits to Unsecured credits public-law entities 17
Slide 18: Client assets under management
Client assets under management 18
Slide 19: Client assets under management
Client assets under management 2004 2005 in CHF billion 30.1 1 8 . 26.1 . 6 5 2 .5 1 7% 2 .8 6 .8 23 % 7 1 +15.4 % 70 % Client assets Client accounts On-balance-sheet Fiduciary under management client deposits transactions 19
Slide 20: Adolf E. Real, Chief Executive Officer
Adolf E. Real, Chief Executive Officer • VP Bank representative office in Hong Kong • Outlook 2006 • Outlook 2009 20
Slide 21: VP Bank representative office in Hong Kong
VP Bank representative office in Hong Kong Asia – already before, one of our opportunity markets • Mid-April HKMA (Hongkong Monetary Authority) approval of our application for the establishment of a representative office 21
Slide 22: Opportunities for the VP Bank Group in Asia
Opportunities for the VP Bank Group in Asia • Large number of affluent individuals • Very attractive growth region • Successive opening up of China – additional growth potential • Broadening of knowledge of regional markets • Expanding network of relationships • Positioning as international private
Slide 23: Outlook for the VP Bank Group – 2006
Outlook for the VP Bank Group – 2006 Growth • Growth-oriented allocation of resources • Initiative to increase advisory capabilities • Professionalized approach to advisory process • Review of market expansion, acquisition plans 23
Slide 24: Outlook for the VP Bank Group – 2009
Outlook for the VP Bank Group – 2009 Our goals through the end of 2009 • CHF 40 billion of client assets under management • Profitability in the top tier among competitors • C/I ratio in the top tier among competitors • Successful candidature for the Swiss Quality Award ESPRIX 24
Slide 25: Hans Brunhart, Chairman of the Board of Directors
Hans Brunhart Chairman of the Board of Directors 25
Slide 26: Agenda item 1
Agenda item 1 The Board of Directors proposes that the 2005 financial statements of the VP Bank Group and parent Bank be approved. 26
Slide 27: Agenda item 2: Appropriation of available earnings
Agenda item 2 2. Appropriation of available earnings (parent Bank) The Board of Directors proposes that: • Of the total available earnings of CHF 109,155,284.20 • A dividend of CHF 44,360,727.75 be distributed (CHF 7.50 per bearer share and CHF 0.75 per registered share) • A special dividend of CHF
Slide 28: Agenda item 2 (continued)
Agenda Item 2 • That CHF 50,000,000.00 be appropriated to other reserves • That CHF 5,000,000.00 be appropriated to the anniversary fund • That CHF 3,879,792.75 be carried forward to the new accounting period 28
Slide 29: Agenda item 3: Discharge
Agenda item 3 3. Discharge The Board of Directors proposes: • That the members of the Board of Directors be granted discharge 29
Slide 30: Agenda item 4: Elections
Agenda item 4 4. Elections 4.1 The board of Directors proposes that: Hans Brunhart be re-elected as Board member to a new three-year term of office. 30
Slide 31: Agenda item 4: Elections, auditors
Agenda item 4 4. Elections 4.2 The Board of Directors also proposes that: Ernst & Young, Berne, be re-elected to a further term of office as statutory and Group auditors. 31
Slide 32: Agenda item 5: Miscellaneous
Agenda item 5 5. Miscellaneous 32
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