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For the 2020 financial year, VP Bank expects a stable result in line with the development of the market environment and continued net new money growth. As a result of the value adjustment on an individual position in the credit portfolio communicated in the spring of 2020, a reduced consolidated group net income of approximately CHF 41.6 million is to be expected compared to the previous year.
Taking into account challenging market conditions surrounding the Corona pandemic, a persistently low interest rate environment and currency shifts, VP Bank Group recorded a stable result for the 2020 financial year. Growth in new money was also positive in the second half of the year and reached a reasonable level of about CHF 1.4 billion for the year as a whole.
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