A new strategy cycle starts this year for the VP Bank Group, details of which can be found in a press release issued by the Vaduz-based private banking group. By the end of 2026, the bank plans to have completed its transformation into a wealth management service provider for intermediaries and high net worth private customers, the press release explains further. The implementation of Strategy 2026 will build upon the bank’s “Liechtenstein roots” as well as a “strong focus on the topic of sustainability”, the VP Bank Group writes.
Within the framework of this strategy, both internal and third-party services are to be pooled in bespoke financial solutions that are then made available through either personal or digital consultancy services. In short, VP Bank intends to develop into an international open wealth service pioneer, the press release states. “Based on our DNA in intermediary services and private clients, our 2026 strategy is building on the opportunities we have thanks to key trends such as digitalization, sustainability and growth in the Asia region”, comments Paul Arni, CEO of VP Bank, in the press release.
A series of financial goals are also linked to the implementation of Strategy 2026. In specific terms, the VP Bank Group is seeking to generate a profit of 100 million Swiss francs by the end of 2026. By the same time, the profit margin should be greater than 15 basis points on assets under management, while the cost-income ratio should stand at a maximum of 70 percent. In terms of customer assets, the VP Bank Group indicates that at least 4 per cent net new money for client assets under management per year across the entire cycle will be the aim.
In the 2020 financial year, the VB Bank Group posted group net profit of 41.6 million Swiss francs, down from 73.5 million Swiss francs in 2019. A total of 1.4 billion Swiss francs was recorded under net new money for the reporting year, while customer assets under management totaled 47.4 billion as at year-end 2020. At 69.3 percent, the cost-income ratio was 1.7 percentage points above the value recorded in the prior year.