Income statement
in CHF 1,000 (Art. 24c FL-BankV) | 2014 | 2013 | Variance | Variance |
Interest income | 78,031 | 77,652 | 379 | 0.5 |
of which from interest-bearing securities | 19,575 | 16,840 | 2,735 | 16.2 |
of which from trading transactions | 0 | 0 | 0 | 0.0 |
Interest expenses | 13,759 | 15,411 | –1,652 | –10.7 |
Income from interest-differential business | 64,272 | 62,241 | 2,031 | 3.3 |
Current income from securities | 3,732 | 13,582 | –9,850 | –72.5 |
• shares and other non-interest-bearing securities | 2,420 | 3,553 | –1,133 | –31.9 |
of which from trading transactions | 0 | 0 | 0 | 0.0 |
• participations | 0 | 8 | –8 | –100.0 |
• shares in affiliated companies | 1,312 | 10,021 | –8,709 | –86.9 |
Income from commission business and services | 74,968 | 76,119 | –1,151 | –1.5 |
• commission income from credit business | 508 | 591 | –83 | –14.0 |
• commission income from securities and investing business | 61,811 | 66,169 | –4,358 | –6.6 |
• commission income from other services | 12,649 | 9,359 | 3,290 | 35.2 |
Commission expenses | 11,734 | 12,302 | –568 | –4.6 |
Income from commission business and services | 63,234 | 63,817 | –583 | –0.9 |
Income from financial transactions | 18,810 | 23,162 | –4,352 | –18.8 |
of which from trading transactions | 18,787 | 13,418 | 5,369 | 40.0 |
Other ordinary income | 3,102 | 6,313 | –3,211 | –50.8 |
• income from real estate | 335 | 351 | –16 | –4.6 |
• other ordinary income | 2,767 | 5,962 | –3,195 | –53.6 |
Total net operating income | 153,150 | 169,115 | –15,965 | –9.4 |
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Operating expenses | 101,743 | 102,682 | –939 | –0.9 |
• personnel expenses | 74,482 | 75,618 | –1,136 | –1.5 |
• general and administrative expenses | 27,261 | 27,064 | 197 | 0.7 |
Gross profit | 51,407 | 66,433 | –15,026 | –22.6 |
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Depreciation and amortisation of intangible assets and property and equipment | 21,401 | 22,438 | –1,037 | –4.6 |
Other ordinary expenses | 424 | 170 | 254 | 150.7 |
Valuation allowances on receivables and increases in provisions | 11,905 | 5,311 | 6,594 | 124.2 |
Income from release of valuation allowances on receivables and | 3,595 | 3,493 | 102 | 2.9 |
Write-offs on participations, shares in affiliated companies and | 0 | 305 | –305 | –100.0 |
Gains from appreciations on participations, shares in affiliated companies | 0 | 0 | 0 | 0.0 |
Income from normal business operations | 21,272 | 41,702 | –20,430 | –49.0 |
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Extraordinary income | 0 | 0 | 0 | 0.0 |
Extraordinary expenses | 1 | 0 | 1 | n.a. |
Taxes on income | 485 | 501 | –16 | –3.2 |
Other taxes if not included in above items | 20 | 0 | 20 | n.a. |
Increases in provisions for general banking risks / | 0 | 0 | 0 | 0.0 |
Net income for the year | 20,766 | 41,201 | –20,435 | –49.6 |
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in CHF 1,000 (Art. 24c FL-BankV) | 2014 | 2013 | Variance | Variance |
Appropriation of income |
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Net income for the year | 20,766 | 41,201 | –20,435 | –49.6 |
Retained earnings brought forward | 35,191 | 14,692 | 20,499 | 139.5 |
Retained earnings | 55,958 | 55,893 | 65 | 0.1 |
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Proposed dividend to be approved by the annual general meeting of VP Bank Ltd, Vaduz, (not accounted for as liability as of 31 December) in the event that the capital increase (issuance of new shares) to be voted upon at the extraordinary general meeting of shareholders of 10 April 2015 | ||||
• appropriation to other reserves | 0 | 0 | 0 | 0.0 |
• distribution on the basis of company capital | 19,846 | 20,702 | –856 | –4.1 |
• release from other reserves | 0 | 0 | 0 | 0.0 |
Retained earnings to be carried forward | 36,112 | 35,191 | 921 | 2.6 |
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Proposed dividend to be approved by the annual general meeting of VP Bank Ltd, Vaduz, (not accounted for as liability as of 31 December) in the event that the capital increase (issuance of new shares) to be voted upon at the extraordinary general meeting of shareholders of 10 April 2015 | ||||
• appropriation to other reserves | 0 | 0 | 0 | 0.0 |
• distribution on the basis of company capital | 17,744 | 20,702 | –2,958 | –14.3 |
• release from other reserves | 0 | 0 | 0 | 0.0 |
Retained earnings to be carried forward | 38,214 | 35,191 | 3,023 | 8.6 |