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 loans)

17,811

443,766

318,409

779,986

Mortgage loans secured by

2,625,592

64,464

21,582

2,711,638

• residential property

2,143,505

0

0

2,143,505

• office and business premises

38,961

0

0

38,961

• commercial and industrial property

403,191

0

0

403,191

• other

39,935

64,464

21,582

125,981

Total loans, 31/12/2014

2,643,403

508,230

339,991

3,491,624

Total loans, 31/12/2013

2,507,998

451,559

296,711

3,256,268

 

 

 

 

 

Off-balance-sheet items

 

 

 

 

Contingent liabilities

364

40,819

11,667

52,850

Irrevocable facilities granted

3,253

4,446

19,120

26,819

Total off-balance-sheet items, 31/12/2014

3,617

45,265

30,787

79,669

Total off-balance-sheet items, 31/12/2013

8,621

46,311

32,603

87,535

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, 31/12/2014

66,172

45,899

20,273

20,273

Total value-impaired loans, 31/12/2013

38,348

18,718

19,630

19,630

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)

31/12/2014

31/12/2013

31/12/2014

31/12/2013

31/12/2014

31/12/2013

Trading portfolios of securities and precious metals

 

 

 

 

 

 

Debt securities

0

0

0

0

0

0

Equity shares

3,626

1,313

3,562

1,355

3,626

1,313

of which equity shares in the treasury

3,626

1,313

3,562

1,355

3,626

1,313

Precious metals

188

230

186

238

188

230

Total 

3,814

1,543

3,748

1,593

3,814

1,543

 

 

 

 

 

 

 

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)

48,845

28,696

 

 

48,845

28,696

Negative replacement values of derivative financial instruments 
in trading portfolios (other liabilities)

12,547

27,278

 

 

12,547

27,278

Total

61,392

55,974

 

 

61,392

55,974

 

 

 

 

 

 

 

Portfolios of securities and precious metals in current assets (excluding trading portfolios)

 

 

 

Debt securities

1,268,652

1,009,995

1,257,640

1,036,571

1,303,086

1,032,510

Equity shares

75,005

78,582

116,774

124,281

87,939

87,869

of which equity shares in the treasury

5,865

9,458

17,455

24,538

5,865

9,458

Precious metals

0

0

0

0

0

0

Total

1,343,657

1,088,577

1,374,414

1,160,852

1,391,025

1,120,379

of which repo-eligible securities

865,217

739,468

871,675

757,005

892,361

756,850

of which exchange-listed securities

1,256,260

1,001,191

1,260,322

1,046,092

1,295,991

1,026,113

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)

 Number

 Carrying value

 

 2014

 2013

2014

 2013

Balance at the beginning of the year

97,000

130,000

9,458

8,450

Purchase

 

 

 

 

Disposals

–28,000

–33,000

–2,587

–2,605

Valuation allowances

 

 

–1,006

 

Appreciation

 

 

 

3,613

Balance at the end of the year

69,000

97,000

5,865

9,458

Participations and shares in affiliated companies

in CHF 1,000 (Art. 24e Par. 1 Point 3.2 FL-BankV)

 

 

Carrying value 

31/12/2014

Carrying value 

31/12/2013

Participations

 

 

 

 

 

 

without quoted market value

 

 

 

25

 

127

Total participations 

 

 

 

25

 

127

 

 

 

 

 

 

 

Shares in affiliated companies

 

 

 

 

 

 

without quoted market value 1

 

 

 

120,150

 

110,435

Total shares in affiliated companies

 

 

 

120,150

 

110,435

  1. In 2014, no re­cov­er­ies in value pur­suant to Art. 1090 PGR were recorded (prior year: CHF 0.0 mil­lion).

 

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 3.3 FL-BankV)

31/12/2014

31/12/2013

 

Currency

Corporate capital

Percentage ownership

Currency

Corporate capital

Percentage ownership

Participations

 

 

 

 

 

 

Finarbit AG, Küsnacht 
(money-market and foreign-exchange broker)

 

 

 

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

 

 

 

 

 

 

IFOS Internationale Fonds Service AG, Vaduz 
(fund management company)

CHF

1,000

100%

CHF

1,000

100%

VPB Finanz Holding AG, Zurich 1 
(holding company)

CHF

20,000

100%

CHF

20,000

100%

VP Bank (Luxembourg) SA, Luxembourg 
(bank)

CHF

20,000

100%

CHF

20,000

100%

VP Verwaltung GmbH, Munich

(management company)

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

67,000

100%

SGD

54,500

100%

VP Bank (BVI) Ltd, Tortola 

(bank)

USD

10,000

100%

USD

10,000

100%

  1. There is a subordinated loan of CHF 6.0 million in favour of VP Bank (Switzerland) Ltd, which is a wholly owned subsidiary company of VPB Finanz Holding AG, Zurich.

The carrying value of affiliated banks included under shares in affiliated companies amounts to CHF 114.8 million including subordinated loans 
(previous year: CHF 105.1 million).

Overview of investments

in CHF 1,000 

Acqui-
­sition 
cost

Cumu­lative de­preciation 
to date

Carrying value

31/12/2013

Financial year 2014

Carrying value

31/12/2014

(Art. 24e Par. 1 
Point 3.4 FL-BankV)

Investments

Divestments

Depr. and amort­­-
isation

Depr. and amort. on 
disposal

 

Total participations 
(minority participations)

255

–128

127

 

–102

 

 

25

Total shares in affiliated companies

161,671

–51,236

110,435

9,715

 

 

 

120,150

Total intangible assets 
(excluding goodwill)

128,885

–109,895

18,990

3,473

–5,929

–12,697

5,929

9,766

Real estate

 

 

 

 

 

 

 

 

• bank premises

198,552

–107,327

91,225

1,398

 

–5,868

 

86,755

• other real estate

17,214

–714

16,500

 

 

 

 

16,500

Other property 
and equipment

35,884

–32,323

3,561

3,019

–10,553

–2,836

10,550

3,741

Total property 
and equipment

251,650

–140,364

111,286

4,417

–10,553

–8,704

10,550

106,996

 

 

 

 

 

 

 

 

 

Fire-insurance 
values of real estate

 

 

168,790

 

 

 

 

172,440

Fire-insurance values 
of other property and 
equipment

 

 

28,120

 

 

 

 

27,500

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)

31/12/2014

31/12/2013

Total minimum commitments arising from operating leases

9,077

10,374

Operating expenses as of 31 December 2014 include CHF 2.677 million arising from operating leases (previous year: CHF 3.118 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)

31/12/2014

31/12/2013

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

470,432

351,814

Effective liabilities

0

0

 

 

 

Securities lending/borrowing and repurchase transactions

 

 

Amounts receivable arising from cash deposits in connection with securities borrowing 
and reverse repurchase transactions

0

335,739

Amounts payable arising from cash deposits in connection with securities lending and repurchase transactions

0

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

362,431

360,667

of which securities for which an unconditional right has been granted to sell on or repledge

299,546

244,821

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 

354,749

719,688

of which securities repledged or sold on

57,988

106,593

Liabilities to own retirement pension plans

in CHF 1,000 (Art. 24e Par. 1 Point 3.7 FL-BankV)

31/12/2014

31/12/2013

Due to customers

38,292

34,199

Securitised liabilities

1,510

1,510

Other liabilities

3,533

1,498

Total liabilities to own retirement pension plans

43,335

37,207

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 31/12/2014

Nominal 
amount 31/12/2013 

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)

01/01/2014

Utilisation in accord­ance with purpose

Recoveries, overdue 
interest, 
forex diff.

Charges 
to income statement

Releases 
to income statement

31/12/2014

Valuation allowances for default risks

 

 

 

 

 

 

• individual valuation allowances

19,630

4,771

444

7,854

2,884

20,273

• individual valuation allowances made 
on lump-sum basis

0

 

 

 

 

0

• lump-sum valuation allowances

17,848

 

 

2,302

676

19,474

• individual valuation allowances made 
on lump-sum basis for country risks

2,250

 

 

1,000

 

3,250

Provisions for contingent liabilities and credit risks

197

 

 

207

 

404

Provisions for other business risks

0

 

 

 

 

0

Provisions for taxes and deferred taxes

600

385

 

700

215

700

Other provisions

10,879

1,998

 

1,894

35

10,740

Total valuation allowances and provisions

51,404

7,154

444

13,957

3,810

54,841

minus: valuation allowances

37,478

 

 

 

 

39,747

Total provisions as per balance sheet

13,926

 

 

 

 

15,094

Provisions for general banking risks

63,150

 

 

 

 

63,150

Company capital

in CHF 1,000 (Art. 24e Par. 1 Point 3.10 FL-BankV)

31/12/2014

31/12/2013

 

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 shareholders and groups of shareholders with interlinking voting rights

in CHF 1,000 (Art. 24e Par. 1 Point 3.10 FL-BankV)

31/12/2014

31/12/2013

 

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

8,554

14.5

7.6

8,355

14.1

7.4

Statement of changes in shareholders’ equity

in CHF 1,000 (Art. 24e Par. 1 Point 3.11 FL-BankV)

2014

Shareholders’ equity at the beginning of the financial year

 

Subscribed and paid-up capital

59,148

Legal reserves

239,800

Reserve for treasury shares

10,771

Other reserves

333,318

Provisions for general banking risks

63,150

Retained earnings

55,893

Total shareholders’ equity at the beginning of the financial year

762,080

 

 

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 3.11 FL-BankV)

2014

Capital increase /reduction (–)

0

Other appropriations / releases from reserves (–)

357

Dividends and other distributions from net income of the previous year 1

–20,702

Net income for the financial year

20,766

Total shareholders’ equity at the end of the financial year

762,501

 

 

of which

 

Subscribed and paid-up capital

59,148

Legal reserves

239,800

Reserve for treasury shares

9,491

Other reserves

334,955

Provisions for general banking risks

63,150

Retained earnings

55,957

  1. 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

1,813,109

 

 

 

 

 

 

1,813,109

Due from banks

571,574

 

864,487

885,045

10,990

422

 

2,332,518

Due from customers

1,595

214,565

1,237,812

428,129

1,231,294

378,229

 

3,491,624

of which mortgage receivables

1,597

97,623

821,915

262,150

1,159,615

368,738

 

2,711,638

Trading portfolios of securities 
and precious metals

3,814

 

 

 

 

 

 

3,814

Portfolios of securities and 
precious metals in current assets 
(excluding trading portfolios)

1,343,657

 

 

 

 

 

 

1,343,657

Other assets

227,414

 

238

 

 

 

103,255

330,907

Total assets, 31/12/2014

3,961,163

214,565

2,102,537

1,313,174

1,242,284

378,651

103,255

9,315,629

Total assets, 31/12/2013

3,322,395

216,046

2,620,286

1,271,221

1,092,051

436,901

107,725

9,066,625

 

 

 

 

 

 

 

 

 

Liabilities and provisions

 

 

 

 

 

 

 

 

Due to banks

1,040,784

149,841

55,115

23,860

 

 

 

1,269,600

Due to customers

5,318,262

1,147,776

209,926

114,757

1,206

 

 

6,791,927

• savings deposits

 

855,535

 

 

 

 

 

855,535

• other liabilities

5,318,262

292,241

209,926

114,757

1,206

 

 

5,936,392

Securitised liabilities

 

 

13,877

39,045

323,723

18,664

 

395,309

• issued debentures

 

 

13,877

39,045

323,723

18,664

 

395,309

of which medium-term notes

 

 

13,877

39,045

123,723

18,664

 

195,309

Provisions (excluding provisions 
for general banking risks)

15,094

 

 

 

 

 

 

15,094

Other liabilities

80,569

 

629

 

 

 

 

81,198

Total liabilities, 31/12/2014

6,454,709

1,297,617

279,547

177,662

324,929

18,664

 

8,553,128

Total liabilities, 31/12/2013

6,462,158

986,228

215,878

292,330

340,145

7,806

 

8,304,545

 

 

 

 

 

 

 

 

 

Debentures and other interest-bearing securities which mature in the following financial year

 

203,574

Issued debentures which mature in the following financial year

 

52,921

Receivables from 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)

31/12/2014

31/12/2013

Receivables from and payables to participations, affiliated companies and qualifying participants

 

 

Receivables from participations

0

0

Payables to participations

487

575

Receivables from affiliated companies

196,181

164,922

Payables to affiliated companies

1,033,224

1,112,188

Receivables from qualifying participants

0

0

Payables to qualifying participants

23,170

19,657

 

 

 

Loans to governing bodies

 

 

Members of the Executive Board and parties related thereto

1,435

5,460

Members of the Board of Directors and parties related thereto 1

4,180

3,635


  1. Ex­clud­ing re­ceiv­ables from re­lated qual­i­fy­ing par­tic­i­pants.

VP Bank 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 2014 totalled CHF 0.481 million (prior year: CHF 0.327 million).

Remuneration paid to members of governing bodies

in CHF 1,000 

Remuneration1,2

 

Total remuneration

(Art. 663bbis Swiss 
Code of Obligations)

 Fixed

 

Thereof in bearer shares (market value)

Pension fund, senior 
employee insurance

 

 

2014

 

2013

 

2014

2013

2014

2013

2014

2013

Board of Directors

 

 

 

 

 

 

 

 

 

 

Fredy Vogt, Chairman A,D

560

 

605

 

140

151

85

68

645

673

Dr Guido Meier, Vice Chairman B

115

 

115

 

29

29

 

 

115

115

Prof. Teodoro D. Cocca, BoD B

105

 

86

 

26

22

 

 

105

86

Roland Feger, BoD D,E

 

 

60

 

 

15

 

 

0

60

Walo Frischknecht, BoD F

68

 3

135

 3

17

34

 

 

68

135

Dr Beat Graf, BoD G

56

 

 

 

14

 

 

 

56

0

Markus Thomas Hilti, BoD B

105

 

105

 

26

26

 

 

105

105

Max E. Katz, BoD H

 

 

83

 

 

21

 

 

0

83

Michael Riesen, BoD C, G

94

 

 

 

23

 

 

 

94

0

Dr Daniel H. Sigg, BoD D

120

 

88

 

30

22

 

 

120

88

Total Board of Directors

1,222

 

1,276

 

306

319

85

68

1,307

1,344

  1. Chairman of the Nomination & Compensation Committee
  2. Member of the Nomination & Compensation Committee
  3.  Chairman of the Audit & Risk Management Committee
  4. Member of the Audit & Risk Management Committee
  5. Member of the Board of Directors up to 26 April 2013
  6. Member of the Board of Directors up to 25 April 2014
  7. Member of the Board of Directors as from 25 April 2014
  8. Member of the Board of Directors up to 23 September 2013
 
  1.  Social-security costs and any applicable value-added taxes on the emoluments paid to the Board members are borne by VP Bank.
  2.  Compensation for out-of-pocket expenses is not included. 
  3. 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 Swiss 
Code of Obligations)

Fixed
basic salary 4

Short-Term

Incentive (STI)

Performance Share Plan 

(PSP)

Restricted 
Share Plan 

(RSP)

Pension fund, senior 
employee 
insurance

 

 

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

Executive Management

1,830

2,823

475

708

1,078

2,150

483

 

310

393

4,176

6,074

 

 

 

 

 

 

 

 

 

 

 

 

 

Highest remuneration

 

 

 

 

 

 

 

 

 

 

 

 

Alfred W. Moeckli 5

700

583

150

233

450

700

202

 

118

63

1,620

1,579

 


With the adop­tion of the new com­pen­sa­tion model de­scribed in the sec­tion on cor­po­rate gov­er­nance (Art. 5.1.2, pages 73 f.), the com­pen­sa­tion ac­tu­ally paid out in the ac­count­ing pe­riod is no longer dis­closed, but rather the en­ti­tle­ments to per­for­mance-based and re­stricted shares in ad­di­tion to the fixed ba­sic salary and the cash com­pen­sa­tion (STI). The 2013 com­par­a­tive fig­ures were ad­justed ac­cord­ingly. The num­ber of bearer shares (en­ti­tle­ment from the per­for­mance share plan) as well as the re­lated mon­e­tary ben­e­fit are fixed de­fin­i­tively only at the end of the re­spec­tive plan­ning pe­riod (or at the time of trans­fer­ring the bearer shares). As part of the 2014–2016 plan, 12,181 per­for­mance-based units and 5,457 re­stricted units were al­lo­cated from the PSP and RSP, re­spec­tively. The com­pu­ta­tion of the num­ber of shares trans­ferred upon ex­piry of the plan pe­riod is de­pen­dent upon the achieve­ment of the tar­gets (re­turn on eq­uity and cost in­come ra­tio). The mon­e­tary ben­e­fit from the re­spec­tive PSP and RSP pro­grammes will by de­f­i­n­i­tion be de­ter­mined by the eq­uity share price at the time of trans­fer of ti­tle to the shares. 

  1. Com­pen­sa­tion for out-of-pocket ex­penses is not in­cluded.
  2. The mem­bers of the Ex­ec­u­tive Board re­tir­ing dur­ing the fi­nan­cial year are in­cluded up to the date when they re­lin­quished their func­tions.
  3. As a re­sult of the amend­ment, the prior-year com­par­a­tive fig­ures were re­stated ac­cord­ingly in the dis­clo­sure on com­pen­sa­tion.
  4. Gifts for length of ser­vice are in­cluded.
  5. CEO as of 1 May 2013

 

Shareholdings in VP Bank

 

 

Loans 
and credits

 Related parties 1

 

Number of shares 
(including related parties, 
excluding qualifying participants)

 

 

 

Loans 
 and credits

Remuneration 
for services
provided

 

 Registered shares

 

 

 Bearer shares

 

 

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

2014

2013

2014

2013

2014

2013

Board of Directors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fredy Vogt

 

 

 

 

 

 

17,675

 

 

12,067

 

 

630

635

 

 

 

 

Dr Guido Meier

79,600

2

 

79,600

 2

 

48,688

2

 

48,316

2

 

3,450

2,900

2,835

 

400

250

Prof. Teodoro D. Cocca

 

 

 

 

 

 

1,093

 

 

753

 

 

 

 

 

 

5

 

Walo Frischknecht 3

 

 

 

 

 

 

n.a.

 

 

2,274

 

 

 

 

 

 

46

65

Dr Beat Graf

 

 

 

 

 

 

183

 

 

 

 

 

 

 

 

 

 

 

Markus Thomas Hilti

 

 

 

 

 

 

5,379

2

 

5,039

2

 

 

 

 

 

 

 

Michael Riesen

 

 

 

 

 

 

303

 

 

 

 

 

 

 

 

 

15

 

Dr Daniel H. Sigg

 

 

 

 

 

 

3,868

 

 

3,480

 

 

100

100

 

 

15

12

Total Board of Directors

79,600

 

 

79,600

 

 

77,189

 

 

71,929

 

 

4,180

3,635

2,835

none

481

327

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Executive Management

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alfred W. Moeckli, CEO 4

 

 

 

 

 

 

6,250

 

 

5,250

 

 

 

 

 

 

 

 

Siegbert Näscher, CFO

 

 

 

 

 

 

1,342

 

 

250

 

 

1,000

1,100

 

 

 

 

Christoph Mauchle 5

 

 

 

 

 

 

10,000

 

 

5,000

 

 

435

 

 

 

 

 

Martin Engler 6

 

 

 

 

 

 

n.a.

 

 

300

 

 

n.a.

2,260

 

 

 

 

Rolf Jermann 6

 

 

 

 

 

 

n.a.

 

 

1,177

 

 

n.a.

1,100

 

 

 

 

Günther Kaufmann 6

 

 

 

 

 

 

n.a.

 

 

1,217

 

 

 

 

 

 

 

 

Juerg W. Sturzenegger 6

 

 

 

 

 

 

n.a.

 

 

2,198

 

 

n.a.

1,000

 

 

 

 

Total Executive Management

none

 

 

none

 

 

17,592

 

 

15,392

 

 

1,435

5,460

none

none

none

none

  1. Individual or legal entities which are economically, legally or de facto closely related to a member of one of the governing bodies.
  2. Excluding the number of shares of the significant shareholders (qualifying participants).
  3. Member of the Board of Directors up to 25 April 2014
  4.  CEO as of 1 October 2013
  5. GEM member as of 1 October 2013
  6. GEL member up to 31 December 2013

Balance sheet – domestic and foreign

in CHF 1,000

31/12/2014

31/12/2013 

(Art. 24e Par. 1 Point 3.14 FL-BankV)

Domestic 

Foreign

Domestic

Foreign

Assets

 

 

 

 

Cash balances

1,813,109

 

1,256,071

 

Due from banks

1,222,339

1,110,179

1,227,778

1,932,753

Due from customers

3,175,199

316,425

2,988,803

267,465

of which mortgage receivables

2,707,515

4,123

2,578,803

4,378

Debentures and other interest-bearing securities

 

1,268,652

1,996

1,007,999

Equity shares and other non-interest-bearing securities

38,253

30,887

43,789

25,335

Participations

25

 

127

 

Shares in affiliated companies

10,600

109,550

10,600

99,835

Intangible assets

9,766

 

18,990

 

Property and equipment

106,996

 

111,286

 

Treasury shares

9,491

 

10,771

 

Other assets

69,240

9,061

38,166

9,116

Accrued receivables and prepaid expenses

4,908

10,949

5,610

10,135

Total assets

6,459,926

2,855,703

5,713,987

3,352,638

 

 

 

 

 

Liabilities and shareholders’ equity

 

 

 

 

Due to banks

917,709

351,891

1,000,101

238,242

Due to customers

4,488,795

2,303,132

4,207,444

2,303,703

• savings deposits

707,574

147,961

727,216

149,956

• other liabilities

3,781,221

2,155,171

3,480,228

2,153,747

Securitised liabilities

395,309

 

445,722

 

Other liabilities

58,833

8,889

74,121

6,697

Accrued liabilities and deferred items

13,389

87

14,515

74

Provisions

15,094

 

13,926

 

Provisions for general banking risks

63,150

 

63,150

 

Subscribed capital

59,148

 

59,148

 

Income reserves

584,246

 

583,889

 

• legal reserves

239,800

 

239,800

 

• reserve for treasury shares

9,491

 

10,771

 

• other reserves

334,955

 

333,318

 

Retained earnings brought forward

35,191

 

14,692

 

Net profit for the year

20,766

 

41,201

 

Total liabilities and shareholders’ equity

6,651,630

2,663,999

6,517,909

2,548,716

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

31/12/2014

31/12/2013 

 (Art. 24e Par. 1 Point 3.15 FL-BankV)

Absolute 

Share in %

Absolute

Share in %

Assets

 

 

 

 

Liechtenstein/Switzerland

6,459,926

69.3

5,713,987

63.0

Europe (excluding Liechtenstein/Switzerland)

2,159,687

23.2

2,786,892

30.8

North America

262,269

2.8

220,458

2.4

Asia

183,333

2.0

93,197

1.0

Caribbean

158,373

1.7

134,570

1.5

Other

92,041

1.0

117,521

1.3

Total assets

9,315,629

100.0

9,066,625

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

1,807,229

268

5,195

417

1,813,109

Due from banks

429,278

647,238

774,532

481,470

2,332,518

Due from customers

2,977,428

199,173

273,489

41,534

3,491,624

of which mortgage receivables

2,703,528

13

8,097

 

2,711,638

Debentures and other interest-bearing securities

410,981

373,525

484,146

 

1,268,652

Equity shares and other non-interest-bearing securities

21,298

21,982

25,860

 

69,140

Participations

25

 

 

 

25

Shares in affiliated companies

120,150

 

 

 

120,150

Intangible assets

9,766

 

 

 

9,766

Property and equipment

106,996

 

 

 

106,996

Treasury shares

9,491

 

 

 

9,491

Other assets

74,020

2,088

1,976

217

78,301

Accrued receivables and prepaid expenses

7,043

3,263

5,148

403

15,857

Total on-balance-sheet assets

5,973,705

1,247,537

1,570,346

524,041

9,315,629

Delivery claims arising from foreign-exchange spot, 
forward and option transactions

176,858

1,404,481

821,564

224,705

2,627,608

Total assets, 31/12/2014

6,150,563

2,652,018

2,391,910

748,746

11,943,237

Total assets, 31/12/2013

6,211,003

2,988,841

2,837,407

889,481

12,926,732

 

 

 

 

 

 

Liabilities and shareholders’ equity

 

 

 

 

 

Due to banks

324,090

515,863

268,334

161,313

1,269,600

Due to customers

2,876,955

1,807,990

1,688,658

418,324

6,791,927

• savings deposits

855,129

 

406

 

855,535

• other liabilities

2,021,826

1,807,990

1,688,252

418,324

5,936,392

Securitised liabilities

369,384

4,398

21,527

 

395,309

Other liabilities

49,515

4,939

9,836

3,432

67,722

Accrued liabilities and deferred items

13,311

80

31

54

13,476

Provisions

15,094

 

 

 

15,094

Provisions for general banking risks

63,150

 

 

 

63,150

Subscribed capital

59,148

 

 

 

59,148

Income reserves

584,246

 

 

 

584,246

• legal reserves

239,800

 

 

 

239,800

• reserve for treasury shares

9,491

 

 

 

9,491

• other reserves

334,955

 

 

 

334,955

Retained earnings brought forward

35,191

 

 

 

35,191

Net income of the year

20,766

 

 

 

20,766

Total on-balance-sheet liabilities and shareholders’ equity

4,410,850

2,333,270

1,988,386

583,123

9,315,629

Delivery obligations arising from foreign-exchange spot, 
forward and option transactions

1,776,494

291,211

358,045

165,050

2,590,800

Total liabilities and shareholders’ equity, 31/12/2014

6,187,344

2,624,481

2,346,431

748,173

11,906,429

Total liabilities and shareholders’ equity, 31/12/2013

6,289,957

2,959,279

2,786,969

888,781

12,924,986

 

 

 

 

 

 

Net position per currency

–36,781

27,537

45,479

573

 

Contingent liabilities

in CHF 1,000 (Art. 24e Par. 1 Point 4.1 FL-BankV)

31/12/2014

31/12/2013

Variance
absolute

Variance 
in %

Contingent liabilities

 

 

 

 

Credit guarantees and similar

26,213

28,915

–2,702

–9.3

Performance guarantees and similar

26,637

29,096

–2,459

–8.4

Other contingent liabilities

0

0

0

0.0

Total contingent liabilities

52,850

58,011

–5,161

–8.9

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

 

 

 

 

31,433

377,847

Futures

 

 

 

 

 

74,239

Options (OTC)

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange / precious metals

 

 

 

 

 

 

Forward contracts

3,179

4,719

291,127

 

 

 

Combined interest-rate /currency swaps

44,459

6,112

2,213,429

 

 

 

Options (OTC)

1,207

1,207

123,052

 

 

 

 

 

 

 

 

 

 

Equity instruments/indices

 

 

 

 

 

 

Futures

 

 

 

 

 

10,910

Options (exchange-traded)

 

509

17,095

 

 

 

 

 

 

 

 

 

 

Total prior to consideration of netting agreements, 31/12/2014

48,845

12,547

2,644,704

0

31,433

462,996

Total prior to consideration of netting agreements, 31/12/2013

28,696

27,279

3,869,166

964

19,183

358,565

Financial instruments falling under a netting agreement do not meet the requirements for offsetting for balance-sheet purposes, which is why the 
carrying values of the related financial instruments are not netted in the balance sheet (Group financial statements – note 38, page 138).

Fiduciary transactions

in CHF 1,000 (Art. 24e Par. 1 Point 4.4 FL-BankV)

31/12/2014

31/12/2013

Variance
absolute

Variance 
in %

Fiduciary transactions

 

 

 

 

Fiduciary deposits

402,031

556,964

–154,933

–27.8

• fiduciary deposits with third-party banks

396,995

551,072

–154,077

–28.0

• fiduciary deposits with affiliated banks and finance companies

5,036

5,892

–856

–14.5

Fiduciary loans

0

1,616

–1,616

–100.0

Other fiduciary transactions of financial nature

0

0

0

0.0

Total fiduciary transactions

402,031

558,580

–156,549

–28.0

Information regarding the income statement

in CHF 1,000 (Art. 24e Par. 1 Point 5.2 FL-BankV)

2014

2013

Variance
absolute

Variance 
in %

Income from trading activities

 

 

 

 

Gains from securities

–19

591

–610

–103.2

Gains from foreign-exchange derivatives

–4,303

–5,361

1,058

–19.7

Gains from foreign-exchange transactions

21,567

16,142

5,425

33.6

Gains from trading in banknotes

1,284

1,450

–166

–11.5

Gains from precious metals

258

596

–338

–56.8

Total income from trading activities

18,787

13,418

5,369

40.0

 

 

 

 

 

in CHF 1,000 (Art. 24e Abs. 1 Ziff. 5.3 FL-BankV)

2014

2013

Variance
absolute

Variance 
in %

Personnel expenses

 

 

 

 

Salaries and wages

57,408

60,111

–2,703

–4.5

Social security costs and staff retirement pensions and assistance costs

14,682

11,835

2,847

24.1

of which for staff retirement pensions

13,387

10,780

2,607

24.2

Other personnel expenses

2,392

3,672

–1,280

–34.8

Total personnel expenses

74,482

75,618

–1,136

–1.5

Salaries of members of the Board of Directors and the Executive Board are disclosed under “Remuneration paid to members of governing bodies” 
(pages 164 f.).

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 5.4 FL-BankV)

2014

2013

Variance
absolute

Variance 
in %

General and administrative expenses

 

 

 

 

Occupancy expenses

2,233

2,562

–329

–12.8

Expenses for IT, equipment, furniture, motor vehicles and other installations

9,112

9,176

–64

–0.7

Other business expenses

15,916

15,326

590

3.9

Total general and administrative expenses

27,261

27,064

197

0.7

 

 

 

 

 

in CHF 1,000 (Art. 24e Par. 2 Point 6e FL-BankV)

2014

2013

Variance
absolute

Variance 
in %

Other ordinary income

 

 

 

 

Income from real estate

335

351

–16

–4.6

Other ordinary income 1

2,767

5,962

–3,195

–53.6

Total other ordinary income

3,102

6,313

–3,211

–50.8

  1. 2014: thereof CHF 2.380 million resulting from service level agreements within the Group.
    2013: thereof CHF 2.781 millionresulting from service level agreements within the Group, CHF 1.706 million earnings from divestiture of participations.

Other assets and liabilities

in CHF 1,000 (Art. 24e Par. 2 Point 6 FL-BankV)

31/12/2014

31/12/2013

Variance
absolute

Variance 
in %

Other assets

 

 

 

 

Precious metals

188

230

–42

–18.0

Unsettled derivative financial instruments (positive replacement values)

48,845

29,660

19,185

64.7

• trading positions

48,845

28,696

20,149

70.2

• liquidity positions

0

964

–964

–100.0

Compensation accounts

28,150

16,232

11,918

73.4

Settlement accounts

316

621

–305

–49.2

Miscellaneous other assets

802

539

263

48.8

Total other assets

78,301

47,282

31,019

65.6

 

 

 

 

 

Other liabilities

 

 

 

 

Accounts for disbursement of taxes and fees

4,467

4,722

–255

–5.4

Unsettled derivative financial instruments (negative replacement values)

43,979

46,462

–2,483

–5.3

• trading positions

12,547

27,278

–14,731

–54.0

• liquidity positions

31,432

19,184

12,248

63.9

Compensation accounts

0

1,122

–1,122

–100.0

Settlement accounts

18,143

27,672

–9,529

–34.4

Miscellaneous other liabilities

1,133

840

293

34.9

Total other liabilities

67,722

80,818

–13,096

–16.2

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