Information regarding business activities and number of employees

VP Bank Ltd, which has its registered office in Vaduz, Liechtenstein, was established in 1956 and is one of the three largest banks in Liechtenstein. Today, VP Bank Group owns subsidiary companies in Zurich, Luxembourg, the British Virgin Islands and Hong Kong, a branch in Singapore as well as a represen­tative office in Hong Kong. Adjusted to reflect full-time equivalents, at year-end 2018 VP Bank Ltd had 602.6 individuals under its employment (previous year: 507.8).

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

In addition to general banking operations, commission and service-related business encompasses asset-management services for private clients, financial intermediaries and institutional clients, as well as investment advice, safekeeping and trustee services. VP Bank Ltd earns a significant portion of its total commission-related revenue 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 the trading activities is related to foreign exchange dealings on behalf of private clients.

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