VP Bank Group expects higher income
VP Bank Group is expecting a higher group net income for the first half of 2019. Net new money also increased.
According to preliminary information from VP Bank Group, its operating income rose to around 163 million Swiss francs in the first half of 2019. In the first half of 2018, it achieved 147.9 million francs. Operating expenses during the same period increased from 115.5 million to 123 million francs.
All in all, VP Bank Group is expecting group net income for the first half of 2019 to reach 35 million francs, some 20 per cent higher than the 29.3 million francs it earned in the first half of 2018.
VP Bank Group says that the strong results are due to the positive market environment as well as the long-term strategy of the Vaduz-based bank. In addition, the positive development of net new money in the year 2018 continued during the first half of 2019.