Statement by the Chairman of the Board
VP Bank Group
Strategy report
Stakeholders' report
Segments
Corporate governance and compensation report
Financial report 2012 of VP Bank Group
Financial report 2012 of Verwaltungs- und Privat-Bank Aktiengesellschaft, Vaduz

Information regarding balance sheet and income statement

Analysis of collateral

in CHF 1,000 (Art. 24e Par. 1 Point 3.1 FL-BankV)	Mortgage collateral	Other collateral	Without collateral	Total
Loans
Due from clients (excluding mortgage-backed receivables)	22,637	352,121	293,324	668,082
Mortgage loans secured by	2,356,857	62,312	21,284	2,440,453
• residential property	1,918,357	0	0	1,918,357
• office and business premises	36,209	0	0	36,209
• commercial and industrial property	335,246	0	0	335,246
• other	67,045	62,312	21,284	150,641
Total loans, 31/12/2012	2,379,494	414,433	314,608	3,108,535
Total loans, 31/12/2011	2,141,942	623,236	421,986	3,187,164

Off-balance-sheet amounts
Contingent liabilities	762	60,636	13,402	74,800
Irrevocable facilities granted	5,875	4,501	17,425	27,801
Total off-balance-sheet amounts, 31/12/2012	6,637	65,137	30,827	102,601
Total off-balance-sheet amounts, 31/12/2011	24,982	63,177	34,440	122,599

Value-impaired loans

in CHF 1,000	Gross amount owed	Estimated liquidation proceeds from collateral	Net amount owed	Individual value adjustments
Total value-impaired loans, 31/12/2012	46,028	16,602	29,426	29,426
Total value-impaired loans, 31/12/2011	49,219	24,566	24,653	24,653

Portfolios of securities and precious metals

in CHF 1,000	Carrying value		Acquisition cost		Market value
(Art. 24e Par. 1 Point 3.2 FL-BankV)	31/12/2012	31/12/2011	31/12/2012	31/12/2011	31/12/2012	31/12/2011
Trading portfolios of securities and precious metals
Debt securities	0	33,640	0	33,821	0	33,640
• exchange listed	0	33,640	0	33,821	0	33,640
• non-exchange listed	0	0	0	0	0	0
• of which own debenture loans	0	33,640	0	33,821	0	33,640
Equity shares	261	273	597	581	261	273
of which equity shares in the treasury	261	331	597	632	261	331
Precious metals	103	13	106	13	103	13
Total	364	33,926	703	34,415	364	33,926

Material receivables and liabilities included in other balance-sheet positions which are marked to market value and whose revaluation is recorded in the item “gains/losses from trading transactions”:
Positive replacement values of derivative financial instruments in trading portfolios (other assets)	34,977	93,593			34,977	93,593
Negative replacement values of derivative financial instruments in trading portfolios (other liabilities)	35,999	91,996			35,999	91,996
Total	70,976	185,589			70,976	185,589

Portfolios of securities and precious metals in current assets (excluding trading portfolios)
Debt securities	779,666	967,591	807,212	1,002,221	812,038	990,155
Equity shares	77,047	90,100	133,514	146,830	86,468	103,245
of which equity shares in the treasury	8,450	12,450	32,886	37,946	8,450	12,450
Precious metals	0	0	0	0	0	0
Total	856,713	1,057,691	940,726	1,149,051	898,506	1,093,400
of which repo-eligible securities	560,104	748,427	582,092	777,286	584,654	767,048
of which exchange-listed securities	754,051	595,278	811,072	646,138	785,845	611,525

Disclosures on treasury shares included in current assets (excluding trading portfolios)

in numbers / in CHF 1,000 (Art. 24e Par. 1 Point 3.2 FL-BankV)	Amount		Carrying value
	2012	2011	2012	2011
Balance at the beginning of the year	150,000	150,000	12,450	17,220
Purchase
Disposals	–20,000		–1,540
Valuation allowances			–2,460	–4,770
Appreciation
Balance at the end of the year	130,000	150,000	8,450	12,450

Participations and shares in affiliated companies

in CHF 1,000 (Art. 24e Par. 1 Point 3.2 FL-BankV)	Carrying value 31/12/2012	Carrying value 31/12/2011
Participations
without quoted market value	127	127
Total participations	127	127

Shares in affiliated companies
without quoted market value 1	97,304	93,004
Total shares in affiliated companies	97,304	93,004

During 2012, recoveries in value of CHF 12.1 million (prior year: CHF 4.0 million) were recorded pursuant to Art. 1090 PGR.

in CHF 1,000 (Art. 24e Par. 1 Point 3.3 FL-BankV)	31/12/2012			31/12/2011
	Currency	Corporate capital	Percentage ownership	Currency	Corporate capital	Percentage ownership
Participations
Finarbit AG, Küsnacht (money-market and foreign-exchange broker)	CHF	1,500	5%	CHF	1,500	5%
Data Info Services AG, Vaduz (procurement, trade and exchange of goods and services)	CHF	50	50%	CHF	50	50%

Shares in affiliated companies
FIB Finanz- und Beteiligungs-AG, Vaduz (investment company)	CHF	50	100%	CHF	50	100%
IGT Intergestions Trust reg., Vaduz (trustee company)	CHF	100	100%	CHF	100	100%
IFOS Internationale Fonds Service AG, Vaduz (fund management company)	CHF	1,000	100%	CHF	1,000	100%
VP Bank and Trust Company (BVI) Limited, Tortola (holding company)	USD	11,000	60%	USD	11,000	60%
VPB Finanz Holding AG, Zurich 1 (holding company)	CHF	20,000	100%	CHF	20,000	100%
VP Bank (Luxembourg) S.A., Luxembourg (bank)	CHF	20,000	100%	CHF	20,000	100%
Proventus Treuhand und Verwaltung AG, Vaduz (trustee company)	CHF	250	100%	CHF	250	100%
VP Verwaltung GmbH, Munich (management company) 2	EUR	500	100%	EUR	500	100%
VP Wealth Management (Hong Kong) Ltd., Hong Kong (asset management company)	HKD	5,000	100%	HKD	5,000	100%
VP Bank (Singapore) Ltd., Singapore (bank)	SGD	54,500	100%	SGD	44,500	100%

As regards VP Bank (Schweiz) AG, which is a wholly owned subsidiary of VPB Finanz Holding AG, Zurich, there is a subordinate loan in the amount of CHF 6.0 million.
VP Vermögensverwaltung GmbH changed its name to VP Verwaltung GmbH. During 2012, VP Vermögensverwaltung GmbH ceased operations.

The carrying value of affiliated banks included under shares in affiliated companies amounts to CHF 81.0 million including subordinated loans (previous year: CHF 74.5 million).

Overview of investments

in CHF 1,000	Acquisi- tion cost	Cumulative deprecia- tion to date	Carrying value 31/12/2011	Financial year 2012						Carrying value 31/12/2012
(Art. 24e Par. 1 Point 3.4 FL-BankV)	Acquisi- tion cost	Cumulative deprecia- tion to date	Carrying value 31/12/2011	Invest- ments	Divest- ments	Reclassi- fications	Revalua- tions	Depr. and amortisa- tion	Depr. and amort. on disposal	Carrying value 31/12/2012
Total participations (minority participations)	255	–128	127							127
Total shares in affiliated companies	140,485	–47,481	93,004	7,750			12,081	–15,531		97,304
Total intangible assets (excluding goodwill)	122,612	–80,006	42,606	3,563				–16,390		29,779
Real estate
• bank premises	195,276	–95,476	99,800	1,162		–24		–6,010		94,928
• other real estate	17,214	–714	16,500							16,500
Other property and equipment	36,192	–31,417	4,775	2,334	–148	24		–3,216	118	3,887
Total property and equipment	248,682	–127,607	121,075	3,496	–148			–9,226	118	115,315

Fire-insurance values of real estate			168,790							168,790
Fire-insurance values of other property and equipment			28,120							28,120

Future commitments under operating leases

At year-end there were various operating lease contracts for real estate and other property and equipment which are principally used to conduct the business activities of the Bank. The material lease contracts include renewal options as well as escape clauses.

in CHF 1,000 (Art. 1092 Point 3 PGR)	31/12/2012	31/12/2011
Total minimum commitments arising from operating leases	13,750	13,035

Operating expenses as of 31 December 2012 include CHF 2.792 million arising from operating leases (previous year: CHF 4.574 million).

Assets pledged or assigned to secure own or third-party liabilities and assets subject to reservation of title

in CHF 1,000 (Art. 24k Par. 1 and Art. 24e Par. 1 Point 3.6 FL-BankV)	31/12/2012	31/12/2011
Assets pledged or assigned to secure own or third-party liabilities and assets subject to reservation of title excluding securities lending/borrowing and repo transactions
Carrying value of assets pledged or assigned as security	560,104	748,427
Effective liabilities	0	33,786

Securities lending/borrowing and repurchase transactions
Amounts receivable arising from cash deposits in connection with securities borrowing and reverse repurchase transactions	511,738	203,900
Amounts payable arising from cash deposits in connection with securities lending and repurchase transactions	149,993	0
Securities owned by the Bank lent out within the scope of securities lending or delivered as collateral within the scope of securities borrowing or transferred within the scope of repurchase transactions	575,966	605,897
of which securities for which an unconditional right has been granted to sell on or repledge	303,384	433,801
Securities received as collateral within the scope of securities lending or borrowed within the scope of securities borrowing or received within the scope of reverse repurchase transactions in the case of which the unconditional right to sell on or repledge was granted	974,065	895,076
of which securities repledged or sold on	125,407	243,272

Liabilities to own retirement pension plans

in CHF 1,000 (Art. 24e Par. 1 Point 3.7 FL-BankV)	31/12/2012	31/12/2011
Due to customers	25,651	45,810
Securitised liabilities	0	905
Other liabilities	3,312	35
Total liabilities to own retirement pension plans	28,963	46,750

Outstanding debenture loan

in CHF 1,000 (Art. 24e Par. 1 Point 3.8 FL-BankV)	Interest rate in %	Year of issue	Maturity	Nominal amount 31/12/2012	Nominal amount 31/12/2011
VP Bank debenture issue	2.875	2007	04/06/2012	0	160,000
VP Bank debenture issue	2.500	2010	27/05/2016	200,000	200,000

Valuation allowances/provisions for general banking risks

in CHF 1,000 (Art. 24e Par. 1 Point 3.9 FL-BankV)	01/01/2012	Utilisation in accor- dance with purpose	Change in purpose (reclassifica- tion)	Recoveries, overdue inter- est, forex diff.	Charges to income state- ment	Releases to income statement	31/12/2012
Valuation allowances for default risks
• individual valuation allowances	24,653	3,412		904	8,392	1,110	29,427
• individual valuation allowances made on lump-sum basis	0						0
• lump-sum valuation allowances	20,378				451	2,620	18,209
• individual valuation allowances made on lump-sum basis for country risks	1,000						1,000
Provisions for contingent liabilities and credit risks	171				54		225
Provisions for other business risks	0						0
Provisions for taxes and deferred taxes	0				100		100
Other provisions	13,445	3,595	1,950		957	3,995	8,762
Total valuation allowances and provisions	59,647	7,007	1,950	904	9,954	7,725	57,723
less: valuation allowances	45,031						47,635
Total provisions as per balance sheet	14,616						10,088
Provisions for general banking risks	63,150						63,150

Company capital

in CHF 1,000 (Art. 24e Par. 1 Point 3.10 FL-BankV)	31/12/2012			31/12/2011
	Total par value	Number	Capital entitled to dividends	Total par value	Number	Capital entitled to dividends
Bearer shares	53,143	5,314,347	53,143	53,143	5,314,347	53,143
Registered shares	6,005	6,004,167	6,005	6,005	6,004,167	6,005
Total company capital	59,148	11,318,514	59,148	59,148	11,318,514	59,148

Significant stakeholders and groups of stakeholders with interlinking voting rights

in CHF 1,000 (Art. 24e Par. 1 Point 3.10.1 FL-BankV)	31/12/2012			31/12/2011
	Par value	Share in % of par value	Share of voting rights in %	Par value	Share in % of par value	Share of voting rights in %
With voting rights
Stiftung Fürstlicher Kommerzienrat Guido Feger, Vaduz	14,717	24.9	48.4	14,717	24.9	48.4
U.M.M. Hilti-Stiftung, Schaan	6,065	10.3	10.6	6,065	10.3	10.6
Ethenea Independent Investors S.A., Luxembourg	7,950	13.4	7.0	0	0.0	0.0

Statement of changes in shareholders’ equity

in CHF 1‘000 (Art. 24e Par. 1 Point 3.11 FL-BankV)	2012
Shareholders’ equity at the beginning of the financial year
Subscribed and paid-up capital	59,148
Legal reserves	239,800
Reserve for treasury shares	12,781
Other reserves	344,841
Provisions for general banking risks	63,150
Retained earnings	16,464
Total shareholders’ equity at the beginning of the financial year	736,184

Capital increase / capital reduction (–)	0
Other appropriations / releases from reserves (–)	–13,831
Dividends and other distributions from net income of the previous year 1	–8,872
Net income for the financial year	21,887
Total shareholders’ equity at the end of the financial year	735,368

of which
Subscribed and paid-up capital	59,148
Legal reserves	239,800
Reserve for treasury shares	8,711
Other reserves	335,080
Provisions for general banking risks	63,150
Retained earnings	29,479

Only dividends to third parties.

Maturity structure of assets as well as liabilities and provisions

in CHF 1,000 (Art. 24e Par. 1 Point 3.12 FL-BankV)	Sight	Callable	Due within 3 months	Due after 3 to 12 months	Due after 12 months to 5 years	Due after 5 years	Without maturity	Total
Assets
Cash balances	858,321							858,321
Public-sector debt instruments and bills of exchange eligible for refinancing at central banks								0
Due from banks	725,683		2,589,596	435,054	7,829	389		3,758,551
Due from customers	2,499	234,291	1,048,237	275,581	1,109,011	438,916		3,108,535
of which mortgage receivables	2,499	136,194	636,428	191,242	1,035,292	438,798		2,440,453
Trading portfolios of securities and precious metals	365							365
Portfolios of securities and precious metals in current assets (excluding trading portfolios)	856,712							856,712
Other assets	217,300		283				111,428	329,011
Total assets, 31/12/2012	2,660,880	234,291	3,638,116	710,635	1,116,840	439,305	111,428	8,911,495
Total assets, 31/12/2011	2,193,928	439,267	4,101,067	742,500	1,175,053	211,900	116,300	8,980,015

Liabilities and provisions
Due to banks	887,863	316	239,568	30,596				1,158,343
Due to customers	5,154,164	994,716	116,744	152,707	345			6,418,676
• savings deposits		857,889						857,889
• other liabilities	5,154,164	136,827	116,744	152,707	345			5,560,787
Securitised liabilities			7,999	66,718	404,200	8,953		487,870
• issued debentures			7,999	66,718	404,200	8,953		487,870
of which medium-term notes			7,999	66,718	204,200	8,953		287,870
Provisions (excluding provisions for general banking risks)	10,088							10,088
Other liabilities	100,367		783					101,150
Total liabilities, 31/12/2012	6,152,482	995,032	365,094	250,021	404,545	8,953		8,176,127
Total liabilities, 31/12/2011	5,166,424	1,556,959	708,775	440,636	361,352	9,685		8,243,831

Debentures and other interest-bearing securities which mature in the following financial year								144,750
Issued debentures which mature in the following financial year								74,717

Receivables and payables to participations, affiliated companies and qualifying participants, as well as loans to governing bodies and material transactions with related persons

in CHF 1,000 (Art. 24e Par. 1 Point 3.13 FL-BankV)	31/12/2012	31/12/2011
Receivables and payables from participations, affiliated companies and qualifying participants
Receivables from participations	0	0
Payables to participations	173	71
Receivables from affiliated companies	153,460	284,897
Payables to affiliated companies	947,853	852,712
Receivables from qualifying participants	0	0
Payables to qualifying participants	20,382	18,384

Loans to governing bodies
Members of the Executive Board and parties related thereto	2,470	1,492
Members of the Board of Directors and parties related thereto 1	3,941	3,331

Excluding receivables from related qualifying participants.

VP Bank Group also makes payments to related persons within the framework of brokerage services and bought-in advisory services. These correspond to customary market conditions. The aggregate amount of such payments and fees in 2012 totalled CHF 0.253 million (2011: CHF 0.257 million).

Remuneration paid to members of governing bodies

in CHF 1,000	Remuneration 1 ,2						Total remuneration
(Art. 663bbis Code of Obligations (Switzerland))	Fixed		Thereof in bearer shares (market value)		Pension fund, senior employee insurance
	2012	2011	2012	2011	2012	2011	2012	2011
Board of Directors
Fredy Vogt, Chairman A ,D ,H	400		100				400
Hans Brunhart, Chairman A ,D ,G	200	400	50	100			200	400
Dr Guido Meier, Vice Chairman B	115	105	29	26			115	105
Prof. Teodoro D. Cocca, BoD F	80	65	20	16			80	65
Roland Feger, BoD D	115	80	29	20			115	80
Walo Frischknecht, BoD C	1353	1053	34	26			135	105
Markus Thomas Hilti, BoD B	105	75	26	19			105	75
Max E. Katz, BoD D ,H	73		18				73	0
Dr Daniel H. Sigg, BoD	80	65	20	16			80	65
Prof. Dr Beat Bernet, BoD E		33		8			0	33
Total Board of Directors	1,303	928	326	231	none	none	1,303	928

Chairman of the Committee of the Board of Directors.
Member of the Committee of the Board of Directors.
Chairman of the Audit & Risk Management Committee.
Member of the Audit & Risk Management Committee.
up to Annual General Meeting 2011
as from Annual General Meeting 2011
up to Annual General Meeting 2012
as from Annual General Meeting 2012

Social-security costs and any applicable value-added taxes on the emoluments paid to the Board members are borne by VP Bank.
Compensation for out-of-pocket expenses is not included.
Including remuneration as representative of the Board of Directors in the pension fund.

in CHF 1,000			Remuneration 1 ,2 ,3						Total remuneration
(Art. 663bbis Code of Obligations (Switzerland))	Fixed basic salary 4		Short-Term Incentive (STI)		Long-Term Incentive (LTI)		Pension fund, senior employee insurance				Long-Term Incentive (LTI), number of bearer shares (prospective entitlement) 7
	2012	2011	2012	2011	2012	2011	2012	2011	2012	2011	2012	2011
Executive Management	2,072	1,610	0	515	845	0	244	170	3,161	2,295	6,574	9,329

Highest remuneration
Georg Wohlwend, Head of BLI 5	405		0		329		44		778		0
Roger Hartmann, CEO 6		650		200				65		915		1,864

The model of variable remuneration with a Short-Term Incentive (STI) and Long-Term Incentive (LTI) is described in the Corporate Governance section (see Section 5.1.2). The number of bearer shares (eligibility from LTI – see last column) and the corresponding monetary value will not be defined until the end of the term of the plan. The calculation of the number of shares depends on the average economic profit over the performance period. The monetary benefit arising from the respective LTI programme is determined, by definition, by the equity share price at the time of ownership. The transfer of bearer shares from the LTI programme 2009–2011 was made during the first half of 2012. The imputed entitlement shows the total numbers of shares under the LTI programmes for 2008–2012, 2009–2011, 2010–2012 and 2011–2013, taking account of economic profits hitherto earned and of a time limit.

Compensation for out-of-pocket expenses is not included.
The compensation paid for the calendar year is reported.
The members of the Executive Board retiring during the financial year are included up to the date when they relinquish their functions.
Gifts for length of service are included.
Head of Banking Liechtenstein & Regional Market up to 30 September 2012.
CEO through mid-July 2012.
Of the members of the Executive Board in office at the end of the year.

	Shareholdings in VP Bank								Loans and credits		Related parties 1
	Number of shares (including related parties, excluding qualifying participants)										Loans and credits 2		Remuneration for services provided
	Registered shares				Bearer shares								Remuneration for services provided
	2012		2011		2012		2011		2012	2011	2012	2011	2012	2011
Board of Directors
Fredy Vogt					10,337				637
Hans Brunhart			6,000				6,541			1,900
Dr Guido Meier	22,750	3	23,250	3	21,500	3	21,549	3	2,900	1,023
Prof. Teodoro D. Cocca					505		206						3	7
Roland Feger	40,350	3	40,350	3	30,651	3	30,221	3	404	408			250	250
Walo Frischknecht					1,885		1,381
Markus Thomas Hilti					4,737	3	4,345	3
Max E. Katz					274
Dr Daniel Sigg					928		629
Total Board of Directors	63,100		69,600		70,817		64,872		3,941	3,331	none	none	253	257

Executive Management	none		none		1,760		4,230		2,470	1,492	none	none	none	none
Rolf Jermann					610
Siegbert Näscher, CFO4 ,5					250
Juerg W. Sturzenegger, COO5					900				1,000	1,000
Roger Hartmann, CEO6							120
Fredy Vogt, CFO7							4,110

Individual or legal entities which are economically, legally or de facto closely related to a member of one of the governing bodies.
As of the balance-sheet date, there were no loans or credits to related parties that were not granted at market conditions.
Excluding the number of shares of the significant shareholders (qualifying participants).
CFO as from 1 April 2012
CEO ad interim as from mid-July 2012
CEO up to mid-July 2012
CFO up to 31 March 2012

Domestic and foreign liabilities

in CHF 1,000 (Art. 24e Par. 1 Point 3.14 FL-BankV)	Domestic 31/12/2012	Foreign 31/12/2012	Domestic 31/12/2011	Foreign 31/12/2011
Assets
Cash balances	858,321		207,371
Due from banks	1,347,181	2,411,370	1,657,022	2,432,357
Due from customers	2,852,482	256,053	2,846,190	340,974
of which mortgage receivables	2,436,120	4,333	2,193,204	3,047
Debentures and other interest-bearing securities	4,981	774,685	162,559	838,672
Equity shares and other non-interest-bearing securities	39,782	28,815	42,878	34,714
Participations	127		127
Shares in affiliated companies	11,014	86,290	11,014	81,990
Intangible assets	29,779		42,606
Property and equipment	115,315		121,075
Treasury shares	8,711		12,781
Other assets	55,815	11,174	107,805	14,121
Accrued receivables and prepaid expenses	8,645	10,955	12,267	13,492
Total assets	5,332,153	3,579,342	5,223,695	3,756,320

in CHF 1,000 (Art. 24e Par. 1 Point 3.14 FL-BankV)	Domestic 31/12/2012	Foreign 31/12/2012	Domestic 31/12/2011	Foreign 31/12/2011
Liabilities and shareholders’ equity
Due to banks	834,232	324,111	809,996	265,073
Due to customers	4,208,571	2,210,105	4,252,247	2,124,264
• savings deposits	707,601	150,288	670,379	146,439
• other liabilities	3,500,970	2,059,817	3,581,868	1,977,825
Securitised liabilities	487,870		614,263
Other liabilities and deferred items	75,028	9,353	124,386	18,772
Accrued liabilities and deferred items	15,814	955	18,585	1,629
Provisions	10,088		14,616
Provisions for general banking risks	63,150		63,150
Subscribed capital	59,148		59,148
Income reserves	583,591		597,422
• legal reserves	239,800		239,800
• reserve for treasury shares	8,711		12,781
• other reserves	335,080		344,841
Retained earnings brought forward	7,592		4,460
Net profit for the year	21,887		12,004
Total liabilities and shareholders’ equity	6,366,971	2,544,524	6,570,277	2,409,738

In accordance with the Banking Ordinance (Art. 24e Par. 1), Switzerland counts as domestic.

Assets in individual countries / groups of countries

in CHF 1,000 (Art. 24e Par. 1 Point 3.15 FL-BankV)	31/12/2012 Absolute	31/12/2012 Share in %	31/12/2011 Absolute	31/12/2011 Share in %
Assets
Liechtenstein/Switzerland	5,332,153	59.8	5,223,695	58.2
Europe (excluding Liechtenstein/Switzerland)	2,963,985	33.3	3,231,278	35.9
North America	233,730	2.6	187,239	2.1
Caribbean	168,286	1.9	116,537	1.3
Asia	140,805	1.6	179,643	2.0
Other	72,536	0.8	41,623	0.5
Total assets	8,911,495	100.0	8,980,015	100.0

Balance sheet by currency

in CHF 1,000 (Art. 24e Par. 1 Point 3.16 FL-BankV)	CHF	USD	EUR	Other	Total
Assets
Cash balances	852,996	269	4,773	283	858,321
Due from banks	171,185	1,398,301	1,581,737	607,328	3,758,551
Due from customers	2,678,038	153,739	234,610	42,148	3,108,535
of which mortgage receivables	2,428,215	6	12,232		2,440,453
Debentures and other interest-bearing securities	423,087	172,331	184,248		779,666
Equity shares and other non-interest-bearing securities	20,098	22,616	25,883		68,597
Participations	127				127
Shares in affiliated companies	97,304				97,304
Intangible assets	29,779				29,779
Property and equipment	115,315				115,315
Treasury shares	8,711				8,711
Other assets	58,634	2,694	5,297	364	66,989
Accrued receivables and prepaid expenses	11,472	2,668	4,981	479	19,600
Total on-balance-sheet assets	4,466,746	1,752,618	2,041,529	650,602	8,911,495
Delivery claims arising from foreign-exchange spot, forward and option transactions	1,058,197	928,745	969,956	235,936	3,192,834
Total assets, 31/12/2012	5,524,943	2,681,363	3,011,485	886,538	12,104,329
Total assets, 31/12/2011	5,371,683	2,914,679	3,231,814	990,711	12,508,887

in CHF 1,000 (Art. 24e Par. 1 Point 3.16 FL-BankV)	CHF	USD	EUR	Other	Total
Liabilities and shareholders’ equity
Due to banks	416,210	294,166	253,255	194,712	1,158,343
Due to customers	2,728,797	1,458,978	1,773,687	457,214	6,418,676
• savings deposits	857,723	1	163	2	857,889
• other liabilities	1,871,074	1,458,977	1,773,524	457,212	5,560,787
Securitised liabilities	465,620	1,645	20,605		487,870
Other liabilities	70,140	2,539	9,719	1,983	84,381
Accrued liabilities and deferred items	15,489	162	995	123	16,769
Provisions	10,088				10,088
Provisions for general banking risks	63,150				63,150
Subscribed capital	59,148				59,148
Income reserves	583,591				583,591
• legal reserves	239,800				239,800
• reserve for treasury shares	8,711				8,711
• other reserves	335,080				335,080
Retained earnings brought forward	7,592				7,592
Net income of the year	21,887				21,887
Total on-balance-sheet liabilities and shareholders’ equity	4,441,712	1,757,490	2,058,261	654,032	8,911,495
Delivery obligations arising from foreign-exchange spot, forward and option transactions	1,132,781	896,900	929,513	231,944	3,191,138
Total liabilities and shareholders’ equity, 31/12/2012	5,574,493	2,654,390	2,987,774	885,976	12,102,633
Total liabilities and shareholders’ equity, 31/12/2011	5,488,569	2,878,753	3,149,612	990,357	12,507,291

Net position per currency	–49,550	26,973	23,711	562

Contingent liabilities

in CHF 1,000 (Art. 24e Par. 1 Point 4.1 FL-BankV)	31/12/2012	31/12/2011	Variance absolute	Variance in %
Contingent liabilities
Credit guarantees and similar	0	645	–645	–100.0
Performance guarantees and similar	74,800	78,979	–4,179	–5.3
Other contingent liabilities	0	0	0	n.a.
Total contingent liabilities	74,800	79,624	–4,824	–6.1

Unsettled derivative financial instruments

in CHF 1,000 (Art. 24e Par. 1 Point 4.3 FL-BankV)	Trading instruments			Hedging instruments
	Positive replacement values	Negative replacement values	Contract volumes	Positive replacement values	Negative replacement values	Contract volumes
Interest-rate instruments
Swaps				26	30,254	312,267
Futures						12,443
Options (OTC)

Foreign exchange / precious metals
Forward contracts	1,815	4,662	362,400		272	32,311
Combined interest / currency swaps	32,041	28,969	2,673,528
Options (OTC)	995	995	87,620	126		33,290

Equity instruments / indices
Forward contracts
Futures						8,701
Options (OTC)		1,101	18,226

Total prior to consideration of netting agreements, 31/12/2012	34,851	35,727	3,141,774	152	30,526	399,012
Total prior to consideration of netting agreements, 31/12/2011	93,407	91,997	3,541,155	186	26,640	391,900

VP Bank has no netting agreements.

Fiduciary transactions

in CHF 1,000 (Art. 24e Par. 1 Point 4.4 FL-BankV)	31/12/2012	31/12/2011	Variance absolute	Variance in %
Fiduciary transactions
Fiduciary deposits	838,192	1,338,049	–499,857	–37.4
• fiduciary deposits with third-party banks	826,322	1,290,396	–464,074	–36.0
• fiduciary deposits with affiliated banks and finance companies	11,870	47,653	–35,783	–75.1
Fiduciary loans	3,003	3,007	–4	–0.2
Other fiduciary transactions of financial nature	0	0	0	0.0
Total fiduciary transactions	841,195	1,341,056	–499,861	–37.3

Information regarding the income statement

in CHF 1,000 (Art. 24e Par. 1 Point 5.2 FL-BankV)	2012	2011	Variance absolute	Variance in %
Income from trading activities
Gains from securities	–395	–1,628	1,233	–75.8
Gains from foreign-exchange derivatives	–2,080	4,830	–6,910	n.a.
Gains from foreign-exchange transactions	14,311	15,037	–726	–4.8
Gains from trading in banknotes	1,353	1,421	–68	–4.8
Gains from precious metals	544	511	33	6.4
Total income from trading activities	13,733	20,171	–6,438	–31.9

in CHF 1,000 (Art. 24e Par. 1 Point 5.3 FL-BankV)	2012	2011	Variance absolute	Variance in %
Personnel expenses
Salaries and wages	56,151	60,424	–4,273	–7.1
Social security costs and staff retirement pensions and assistance costs	11,124	10,668	456	4.3
of which for staff retirement pensions	9,984	9,441	543	5.8
Other personnel expenses	3,996	4,504	–508	–11.3
Total personnel expenses	71,271	75,596	–4,325	–5.7

Emoluments of members of the Board of Directors 1 ,2	1,303	928	375	40.4
Compensation of members of Group Executive Management 2 ,3	3,161	2,295	866	37.7

Social costs and any applicable value-added taxes on the emoluments paid to Board members are not included.
Compensation for out-of-pocket expenses is not included.
The compensation paid for the current year has been recorded.

in CHF 1,000 (Art. 24e Par. 1 Point 5.4 FL-BankV)	2012		2011	Variance absolute	Variance in %
General and administrative expenses
Occupancy expenses	3,115		3,002	113	3.7
Expenses for IT, equipment, furniture, motor vehicles and other installations	10,744		15,121	–4,377	–28.9
Other business expenses	16,162		17,486	–1,324	–7.6
Total general and administrative expenses	30,021		35,609	–5,588	–15.7

in CHF 1,000 (Art. 24e Par. 2 Point 6e FL-BankV)	2012		2011	Variance absolute	Variance in %
Other ordinary income
Income from real estate	248		249	–1	–0.3
Other ordinary income	3,622	1	1,052	2,570	244.0
Total other ordinary income	3,870		1,301	2,569	197.2

Thereof CHF 2.362 million resulting from the release of provisions for management share equity plans constituted in prior years which were excess to requirements.

Other assets and liabilities

in CHF 1,000 (Art. 24e Par. 2 Point 6 FL-BankV)	31/12/2012	31/12/2011	Variance absolute	Variance in %
Other assets
Precious metals	103	13	90	n.a.
Unsettled derivative financial instruments (positive replacement values)	35,003	93,593	–58,590	–62.6
• trading positions	34,977	93,593	–58,616	–62.6
• liquidity positions	26	0	26	n.a.
Compensation accounts	30,254	26,640	3,614	13.6
Settlement accounts	1,104	909	195	21.4
Miscellaneous other assets	525	771	–246	–31.9
Total other assets	66,989	121,926	–54,937	–45.1

Other liabilities
Accounts for disbursement of taxes and fees	5,437	5,009	428	8.6
Unsettled derivative financial instruments (negative replacement values)	66,253	118,637	–52,384	–44.2
• trading positions	35,999	91,996	–55,997	–60.9
• liquidity positions	30,254	26,641	3,613	13.6
Compensation accounts	26	0	26	n.a.
Settlement accounts	12,223	18,467	–6,244	–33.8
Miscellaneous other liabilities	442	1,045	–603	–57.7
Total other liabilities	84,381	143,158	–58,777	–41.1

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Information regarding balance sheet and income statement