VP Bank AG Class A · SIX:VPBN
VP Bank AG Class A — H1 2020 Earnings Presentation
13 slides from VP Bank AG Class A's earnings presentation, 2020
Slide 1: VP Bank Group in figures
2020 Semi-annual results VP Bank Group in figures
Slide 2: 2020 Semi-annual results
2020 Semi-annual results Impressive rise in client Significantly higher group assets under net income management Strong growth in net new money Sound equity capital 2
Slide 3: Good operating performance, sound capital base
Good operating performance, sound capital base Profit before Tier 1 ratio valuation 20.1 % adjustments and 20.2 % (end of 2019) taxes CHF 41.5 million Very good capital base Net group income CHF 36.5 million Net inflow of new Extremely (1H 2019) CHF 14.4 million money stable key balance CHF 35.3 mil
Slide 4: Operating result improves in challenging environment
Operating result improves in challenging environment • 14% higher operating result in 1st half of 2020 • Higher earnings on commission business and services, while costs remain stable Profit in CHF million Income statement in CHF million 41.5 1H 2018 1H 2019 1H 2020 36.4 35.2 Operating income 147.9
Slide 5: Earnings growth thanks to higher commission and trading activities
Earnings growth thanks to higher commission and trading activities Operating income (CHF million) • Interest income CHF 2.8 million or 5.1% higher 166.8 147.9 162.7 • Interest margin expanded • Interest income from treasury activities stable • Commission income CHF 4.5 million or 6.7% higher • Highe
Slide 6: Costs remain stable
Costs remain stable Operating expenses (CHF million) • Cost discipline 146.2 • Personnel expenses CHF 1.1 million or 1.3% lower 122.7 115.5 • General & administrative expenses CHF 0.3 million or 1.0% lower • Valuation adjustments, provisions and losses CHF 25.1 million higher due to valuation adjust
Slide 7: Sound balance sheet structure
Sound balance sheet structure Balance sheet as at 30 June 2020 (CHF billion) • Sound assets • High liquidity position • Client lending reduced by 10.9% • Receivables from banks 149% higher • Stable refinancing • Client deposits account for 87% of total assets • Client deposits 3.5% higher • Strong e
Slide 8: Equity capital requirements comfortably exceeded
Equity capital requirements comfortably exceeded 31 December 2018 31 December 2019 30 June 2020 Risk-weighted assets in CHF billion 4.5 4.8 4.8 Core capital (CET 1) in CHF million 942.8 979.0 963.7 Tier 1 ratio (CET 1 ratio) 20.9% 20.2% 20.1% Liquidity coverage ratio (LCR) 142.6% 213% 176.7% Leverag
Slide 9: Client assets sink due to market performance
Client assets sink due to market performance Client assets under management (CHF billion) • Net inflow of new money CHF 1.0 billion • 4.2% reduction in client assets under management due to COVID-19 • Client assets incl. custody assets of CHF 52.0 billion 9
Slide 10: Geographically broad based
Geographically broad based Segment overview as at 30 June 2020 Client Business Client Business Corporate Group Liechtenstein International Centre Business volumes in CHF1 29.5 billion 22.2 billion – 51.7 billion Client assets under management in CHF 25.5 billion 20.1 billion – 45.6 billion Net new m
Slide 11: VP Bank share price performance in comparison
VP Bank share price performance in comparison 11
Slide 12: Summary
Summary Challenging market environment, good operating results • Group earnings impacted by valuation adjustments on individual loan item • Higher earnings before taxes and provisions • Inflows of new money from new and existing client advisors • Position strengthened in the Nordics market Secure an
Slide 13: 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, Paul H. Arni, Chief Executive Officer which is intended solely for your in