Segment reporting
Structure
The organisational structure of VP Bank Group, which had been amended as of 1 January 2012 and was designed to support the Group’s focus on market needs, remains unchanged as of 31 December 2012.
As previously, VP Bank Group is subdivided into four business segments: Banking Liechtenstein & Regional Market, Private Banking International, Chief Financial Officer & Corporate Center and Chief Operating Officer. The prior year’s segment reporting has been restated retroactively.
2012
in CHF 1,000 | Banking | Private | Chief | CFO & | Total |
Total interest income | 32,262 | 20,484 | 0 | 30,720 | 83,466 |
Total income from commission business and services | 82,740 | 33,756 | –3,753 | 2,351 | 115,094 |
Income from trading activities | 10,952 | 8,034 | 2,517 | –356 | 21,147 |
Income from financial investments | 323 | 2,055 | 0 | 17,093 | 19,471 |
Other income | 79 | 2,856 | 0 | 287 | 3,222 |
Total net operating income | 126,356 | 67,185 | –1,236 | 50,095 | 242,400 |
Personnel expenses 1 | 26,745 | 47,516 | 29,755 | 368 | 104,384 |
General and administrative expenses | 3,640 | 18,605 | 10,914 | 15,257 | 48,416 |
Services to/from other segments | 42,112 | 16,097 | –59,728 | 1,519 | 0 |
Operating expenses | 72,497 | 82,218 | –19,059 | 17,144 | 152,800 |
Gross income | 53,859 | –15,033 | 17,823 | 32,951 | 89,600 |
Depreciation and amortisation | 61 | 2,612 | 20,238 | 6,534 | 29,445 |
Valuation allowances, provisions and losses | 6,260 | 4,824 | 0 | –25 | 11,059 |
Income/loss before income tax | 47,538 | –22,469 | –2,415 | 26,442 | 49,096 |
Taxes on income |
|
|
|
| 1,895 |
Net income |
|
|
|
| 47,201 |
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|
|
|
|
|
Share of net income attributable to minority interests |
|
|
|
| 54 |
Net income attributable to the shareholders of Verwaltungs- und Privat-Bank AG, Vaduz |
|
|
|
| 47,147 |
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|
|
|
|
|
Client assets under management (in CHF billion) 2 | 17.8 | 10.4 | 0.0 | 0.2 | 28.5 |
Net new money (in CHF billion) | –0.2 | 0.2 | 0.0 | –0.1 | –0.2 |
Headcount (number of employees) | 162 | 261 | 213 | 130 | 766 |
Headcount (expressed as full-time equivalents) | 156.2 | 249.7 | 193.9 | 107.1 | 706.9 |
- All adjustments arising from the conversion of the Treuhand-Personalstiftung from a defined-benefit to defined-contribution scheme flow into the CFO & Corporate Center segment.
- Computation in accordance with Table P of the Guidelines issued by the Government of Liechtenstein on the Liechtenstein Banking Ordinance (FL-BankV).
2011
in CHF 1,000 | Banking | Private | Chief | CFO & | Total |
Total interest income | 36,627 | 22,017 | 0 | 7,955 | 66,599 |
Total income from commission business and services | 86,908 | 36,864 | –4,190 | 2,343 | 121,925 |
Income from trading activities | 12,687 | 8,845 | 2,346 | 5,489 | 29,367 |
Income from financial investments | –72 | –291 | 0 | 6,275 | 5,912 |
Other income | 173 | 430 | 0 | 52 | 655 |
Total net operating income | 136,323 | 67,865 | –1,844 | 22,114 | 224,458 |
Personnel expenses 1 | 26,416 | 43,946 | 30,698 | 24,887 | 125,947 |
General and administrative expenses | 3,704 | 17,295 | 13,944 | 17,928 | 52,871 |
Services to/from other segments | 47,260 | 13,382 | –65,290 | 4,648 | 0 |
Operating expenses | 77,380 | 74,623 | –20,648 | 47,463 | 178,818 |
Gross income | 58,943 | –6,758 | 18,804 | –25,349 | 45,640 |
Depreciation and amortisation | 289 | 3,222 | 23,797 | 6,328 | 33,636 |
Valuation allowances, provisions and losses | 5,560 | 3,124 | 0 | –2,915 | 5,769 |
Income/loss before income tax | 53,094 | –13,104 | –4,993 | –28,762 | 6,235 |
Taxes on income |
|
|
|
| 973 |
Net income |
|
|
|
| 5,262 |
|
|
|
|
|
|
Share of net income attributable to minority interests |
|
|
|
| 2,058 |
Net income attributable to the shareholders of Verwaltungs- und Privat-Bank AG, Vaduz |
|
|
|
| 3,204 |
|
|
|
|
|
|
Client assets under management (in CHF billion) 2 | 17.3 | 9.8 | 0.0 | 0.3 | 27.4 |
Net new money (in CHF billion) | –0.3 | 1.5 | –0.1 | –0.1 | 1.0 |
Headcount (number of employees) | 171 | 265 | 225 | 132 | 793 |
Headcount (expressed as full-time equivalents) | 165.3 | 255.5 | 207.8 | 109.2 | 737.8 |
- All adjustments arising from IAS 19 flow into the CFO & Corporate Center segment.
- Computation in accordance with Table P of the Guidelines issued by the Government of Liechtenstein on the Liechtenstein Banking Ordinance (FL-BankV).