VP Bank Group Semi-annual report 2013

Transcription

1 VP Bank Group 27 August 2013 VP Bank Group Semi-annual report August 2013, SIX Swiss Exchange

2 Programme 1 Welcoming remarks Fredy Vogt, Chairman of the Board of Directors 2 Semi-annual results 2013 Siegbert Näscher, Chief Financial Officer 3Strategy implementation Alfred W. Moeckli, Chief Executive Officer 4 Questions & answers 2

3 Welcoming remarks Fredy Vogt Chairman of the Board of Directors 3

4 Semi-annual results 2013 Siegbert Näscher Chief Financial Officer 4

5 Overview of topics Profile as at 30 June 2013 Consolidated income statement Consolidated balance sheet Client assets under management Segments Summary 5

6 VP Bank Group Profile as at 30 June 2013 CHF million shareholders equity Cost/ income ratio 64.4% CHF 28.3 million consolidated net income CHF 10.9 billion total assets employees (FTE) CHF 28.8 billion client assets under management 6

7 Consolidated income statement 7

8 Total operating income 30/06/ /06/2013 in CHF million % Interest income Commission business Trading activities Financial instruments Other income Total operating income 8

9 Operating expenses 30/06/ /06/2013 in CHF million % Personnel expenses General and administrative expenses Operating expenses 9

10 Depreciation and amortisation /06/ /06/2013 in CHF million 7.3% Depreciation and amortisation 10

11 Valuation allowances, provisions and losses /06/ /06/2013 in CHF million % Valuation allowances, provisions and losses 11

12 Consolidated net income in CHF million Total net operating income Operating expenses Depreciation and amortisation, provisions Income taxes Consolidated net income 12

13 Total comprehensive income /06/ /06/2013 in CHF million 3.6% Total comprehensive income 13

14 Consolidated balance sheet 14

15 Total assets /12/ /06/2013 in CHF billion +2.5% Total assets 15

16 Shareholders equity in CHF million Shareholders equity 31/12/2012 Dividend distribution Financial instruments FVTOCI Treasury shares, LTI, IAS 19R and foreign-currency translation differences Net income Shareholders equity 30/06/

17 Due from banks 4,789 4,870 31/12/ /06/2013 in CHF million +1.7% Due from banks 17

18 Due from customers 31/12/ /06/2013 3,713 3,821 5% in CHF million +2.9% 25% 70% Due from customers Mortgage collateral Other collateral Unsecured 18

19 Financial instruments /12/ /06/2013 in CHF million 3.2% 9% 91% Financial instruments Debt securities Equity securities 19

20 Client assets under management 20

21 Client assets under management /12/ /06/2013 in CHF billion Client assets under management 31/12/2012 Performance Net outflow of client assets, 1 st semester Client assets under management 30/06/

22 Client assets under management Asset classes / Currencies Asset classes as at 30/06/2013 Currencies as at 30/06/2013 3% 12% 22% 33% 28% 24% 20% 22% 36% Liquidity Equities Other Bonds Investment funds CHF USD EUR Other 22

23 Segments 23

24 Overview of segments as at 30 June 2013 * in CHF Banking Liechtenstein & Regional Market Private Banking International Chief Operating Officer CFO & Corporate Center Group Group net income before tax* Client assets under management* Headcount (full-time equivalents) 32.5 mn 8.2 mn 3.2 mn 9.9 mn 31.0 mn 17.7 bn 9.7 bn 1.2 bn 0.2 bn 28.8 bn

25 Summary 25

26 VP Bank Group Summary semi-annual results 2013 Net outflow of client assets CHF 0.4 billion Consolidated net income CHF 28.3 million Excess equity capital Assets under management stable 26

27 Strategy implementation Alfred W. Moeckli Chief Executive Officer 27

28 Strategy implementation Focusing the core business Exploiting growth opportunities Reorganisation measures Reducing complexity; Increasing efficiency Keen costconsciousness Divestiture of fiduciary companies Adjusted pricing Account packages for retail clients Asset deal with HSBC, Luxembourg Ongoing assessment of attractive asset deals Utilisation of new technological possibilities Organisation structure as of 1 July 2013 New Managing Director in Singapore New CEO VP Bank (Schweiz) AG Bundling advisory competence in the Client Business field 28

29 Divestiture of Group-owned fiduciary companies IGT Intergestions Trust Reg. Management buyout All employees will be retained by the existing company VP Bank and Trust Company (BVI) Limited Cession of the entire fiduciary business to Allgemeines Treuunternehmen (ATU) Complete takeover of VP Bank (BVI) Limited Acquisition of the 40% financial interest held by Allgemeines Treuunternehmen (ATU) 29

30 Adjusted pricing Cost-coverage as a priority Price increases or less comprehensive service Optimisation of the product palette Focus on better timing in response to client acceptance 30

31 Advantages of asset deals Manageable risks Focus on acquisition of front office employees High contribution margin Rapid achievement of breakeven 31

32 32

33 Client Business field Reasons for creating the new business field Adjusting to client needs Changed circumstances Bundling of competencies Central steering of market cultivation activities 33

34 Questions & Answers 34

35 35