For the 2019 financial year, VP Bank is expecting group net income to come in 34 per cent higher at about CHF 74 million. This striking result is attributable to a positive operating performance in conjunction with strict cost discipline. In addition, market effects also contributed to the rise in group net income.
Operating earnings rose by some 13 per cent to reach around CHF 328 million, while operating expenses increased by a lower percentage to reach approximately CHF 245 million. VP Bank Group is expecting significantly higher group net income of around CHF 74 million, which compares with CHF 54.7 million in the previous year.
Thanks to the successful growth strategy and the positive performance of financial markets, client as-sets under...
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