Corporate governance
VP Bank Group strives to win the trust of all stakeholder groups. Accordingly, it acts with integrity and in a transparent manner at all times and grants insight into its decision-making and control processes.
Corporate governance stands for responsible corporate management and control. The “Swiss Code of Best Practice for Corporate Governance” defines corporate governance as the entirety of principles focussed on the interests of shareholders which aim for transparency and a healthy balance of management and control whilst maintaining decision-making capability as well as efficiency at the highest level of a company.
Good corporate governance ensures transparent management aimed at sustainable achievement. It is designed to serve not only the company but also external stakeholder groups. The overall framework of corporate governance is determined to a significant degree by the legislator and shareholders; the specific manner in which it is designed is the responsibility of the Board of Directors.
VP Bank Group strives to win the trust of all stakeholder groups. It therefore acts with integrity and in a fair, transparent manner at all times and grants its stakeholder groups insight into its decision-making and control processes. This is why, for years and of its own accord, it has published information about its strategic objectives as well as its relationships with stakeholders.
This report describes the basic principles underlying the corporate management of VP Bank Ltd, Vaduz,¹ as required by the revised “Directive on Information Relating to Corporate Governance” (DCG) of the Swiss stock exchange SIX Swiss Exchange Ltd dated 18 June 2021 as well as the Liechtenstein legislation.
In Switzerland, the Ordinance against Excessive Remuneration in Listed Companies Limited by Shares (ERCO) has been in force as of 1 January 2014. It is applicable to Swiss joint-stock corporations whose shares are listed on a stock exchange in Switzerland or abroad, whereby VP Bank is not directly affected. In its Notification No. 2/2014 issued on 1 September 2014 concerning the revision of the “Directive on Information Relating to Corporate Governance” (DCG), the Regulatory Board stipulated that in principle all companies quoted on SIX Swiss Exchange Ltd must disclose the same information concerning corporate governance. As a consequence, the DCG contains in part special provisions for issuers which are not subject to the ERCO, but must apply these, in part, in an according manner.
Unless otherwise indicated, all details relating to corporate governance are valid as of 31 December 2022.
