Information regarding business activities and the number of employees

Ver­wal­tungs- und Pri­vat-Bank Ak­tienge­sellschaft (VP Bank), which has its reg­is­tered of­fice in Vaduz, Liecht­en­stein, was es­tab­lished in 1956 and is one of the three largest banks in Liecht­en­stein. As of 31 De­cem­ber 2013,, it owns sub­sidiary com­pa­nies in Zurich, Lux­em­bourg, the British Vir­gin Is­lands, Sin­ga­pore and Hong Kong, as well as rep­re­sen­ta­tive of­fices in Moscow and Hong Kong. Ad­justed to re­flect full-time equiv­a­lents, at year-end 2013 VP Bank had 424.5 in­di­vid­u­als un­der its em­ploy­ment (pre­vi­ous year: 432.5).

VP Bank’s core ac­tiv­i­ties con­sist of as­set-man­age­ment and in­vest­ment-ad­vi­sory ser­vices for pri­vate and in­sti­tu­tional in­vestors, as well as lend­ing op­er­a­tions.

Aside from its gen­eral bank­ing op­er­a­tions, VP Bank’s com­mis­sion- and ser­vice-re­lated busi­ness en­com­passes as­set man­age­ment for pri­vate clients, fi­nan­cial in­ter­me­di­aries and in­sti­tu­tional clients, as well as in­vest­ment ad­vice, safe­keep­ing and fidu­ciary ser­vices. VP Bank earns a sig­nif­i­cant por­tion of its to­tal com­mis­sion-re­lated rev­enues from trans­ac­tions in se­cu­ri­ties on be­half of clients.

The credit busi­ness of the Bank is pri­mar­ily geared to pro­vid­ing fi­nanc­ing of res­i­den­tial prop­er­ties for pri­vate clients, as well as as­set man­age­ment and in­vest­ment-ad­vi­sory ser­vices for pri­vate clients. The Bank also grants com­mer­cial loans to com­mer­cial clients.

To the ex­tent that they are not used for the Bank’s lend­ing op­er­a­tions, client funds are in­vested with first-rate banks.

Clients are af­forded a full range of ex­e­cu­tion and set­tle­ment ser­vices for all cus­tom­ary types of fi­nan­cial trans­ac­tion. A sig­nif­i­cant por­tion of VP Bank’s trad­ing ac­tiv­i­ties is re­lated to for­eign-ex­change deal­ings on be­half of pri­vate clients. 

For liq­uid­ity-man­age­ment and in­vest­ment pur­poses, VP Bank main­tains a port­fo­lio of in­ter­est-bear­ing se­cu­rity and eq­uity po­si­tions.