The Liechtenstein-based bank was able to increase profits in 2021, reversing a previous profit slowdown.
All international locations contributed to VP Bank’s profit gain of 50.6 million Swiss francs last year, up 22 percent from the previous year, it said in a statement Tuesday.
The private bank lifted its assets under management by 8 percent to 51.3 billion francs, boosted by its acquisition of the Luxemburg-based Oehman Bank S.A. New net money inflows were 3oo million francs versus 1.4 billion francs in the previous year, affected by outflows from in its fund business, while income from commissions and services rose by almost 12 percent.
The board will propose a dividend increase of 25 per cent at the bank’s annual general meeting on April 29.
«We are on track with the implementation of our Strategy 2026 and the achievement of our financial objectives,» CEO Paul H. Arni said. He added that tying the traditional business with the advantages of digital ecosystems created attractive opportunities for profitable and sustainable growth.
