Con­sol­i­dated state­ment of cash flow

in CHF 1,000

Cash flow from op­er­at­ing ac­tiv­i­ties

Group net in­come

Rec­on­cil­i­a­tion to cash flow from op­er­at­ing ac­tiv­i­ties

Non-cash-re­lated po­si­tions in Group re­sults

De­pre­ci­a­tion of prop­erty, equip­ment and in­tan­gi­ble as­sets

Cre­ation/​dis­so­lu­tion of re­tire­ment pen­sion pro­vi­sions

Cre­ation/​dis­so­lu­tion of other pro­vi­sions and val­u­a­tion al­lowances

Non-cash-re­lated in­come from cap­i­tal­i­sa­tion of as­sets

Un­re­alised gains on fi­nan­cial in­stru­ments mea­sured at fair value

Un­re­alised gains on fi­nan­cial in­stru­ments mea­sured at amor­tised cost

De­ferred in­come taxes

Net in­crease/​re­duc­tion in bank­ing

Amounts due from/​to banks, net

Trad­ing port­fo­lios incl. re­place­ment val­ues, net

Amounts due from/​to clients

Ac­crued re­ceiv­ables and other as­sets

Ac­cru­als and other li­a­bil­i­ties

In­come taxes paid

Used pro­vi­sions and val­u­a­tion al­lowances

For­eign-cur­rency im­pact on in­tra­group trans­ac­tions

Net cash flow from op­er­at­ing ac­tiv­i­ties

 

Cash flow from in­vest­ment ac­tiv­i­ties

Pur­chase of fi­nan­cial in­stru­ments mea­sured at fair value

Pro­ceeds from sale of/​ma­tur­ing fi­nan­cial in­stru­ments mea­sured at fair value

Pur­chase of fi­nan­cial in­stru­ments mea­sured at amor­tised cost

Pro­ceeds from sale of/​ma­tur­ing fi­nan­cial in­stru­ments mea­sured at amor­tised cost

Ac­qui­si­tion of prop­erty and equip­ment and in­tan­gi­ble as­sets

thereof from ac­qui­si­tions

Sale of prop­erty and equip­ment and in­tan­gi­ble as­sets

Net cash flow from in­vest­ment ac­tiv­i­ties

 

Cash flow from fi­nanc­ing ac­tiv­i­ties

Pur­chase of trea­sury shares

Sale of trea­sury shares

Pay­ment of lease li­a­bil­i­ties

Div­i­dend dis­tri­b­u­tions

Is­suance of medium-term bonds

Re­demp­tion of medium-term bonds

Re­demp­tion of deben­tures

Net cash flow from fi­nanc­ing ac­tiv­i­ties

 

For­eign-cur­rency trans­la­tion im­pact

Net in­crease/​re­duc­tion in cash and cash equiv­a­lents

 

Cash and cash equiv­a­lents at the be­gin­ning of the fi­nan­cial year

Cash and cash equiv­a­lents at the end of the fi­nan­cial year

Net in­crease/​re­duc­tion in cash and cash equiv­a­lents

 

 

in CHF 1,000

Cash and cash equiv­a­lents are rep­re­sented by

Cash

Re­ceiv­ables aris­ing from money mar­ket pa­per

Due from banks – at-sight bal­ances

To­tal cash and cash equiv­a­lents

 

Con­sol­i­dated state­ment of cash flow (sum­marised)

Cash and cash equiv­a­lents at be­gin­ning of ac­count­ing pe­riod

Cash flow from op­er­at­ing ac­tiv­i­ties, net of taxes

Cash flow from in­vest­ing ac­tiv­i­ties

Cash flow from fi­nanc­ing ac­tiv­i­ties

For­eign-cur­rency trans­la­tion im­pact

Cash and cash equiv­a­lents at end of ac­count­ing pe­riod

 

Cash flow from op­er­at­ing ac­tiv­i­ties from in­ter­est and div­i­dends

In­ter­est paid

In­ter­est re­ceived

Div­i­dends re­ceived

At-sight bal­ances due from banks bear in­ter­est at daily rates or are in­vested in in­ter­est-bear­ing short-term money-mar­ket de­posits for be­tween one day and three months, de­pend­ing upon the liq­uid­ity re­quire­ments of VP Bank Group. In­ter­est rates are based upon equiv­a­lent mar­ket rates. The fair value of cash and cash equiv­a­lents amounts to CHF 2,684.6 mil­lion (2021: CHF 2,875.8 mil­lion).

in CHF 1,000

Note

2022

2021

Cash flow from op­er­at­ing ac­tiv­i­ties

 

 

 

Group net in­come

 

40,160

50,638

Rec­on­cil­i­a­tion to cash flow from op­er­at­ing ac­tiv­i­ties

 

 

 

Non-cash-re­lated po­si­tions in Group re­sults

 

 

 

De­pre­ci­a­tion of prop­erty, equip­ment and in­tan­gi­ble as­sets

22/23

40,969

36,383

Cre­ation/​dis­so­lu­tion of re­tire­ment pen­sion pro­vi­sions

 

1,248

2,217

Cre­ation/​dis­so­lu­tion of other pro­vi­sions and val­u­a­tion al­lowances

 

–2,741

1,069

Non-cash-re­lated in­come from cap­i­tal­i­sa­tion of as­sets

 

–4,001

0

Un­re­alised gains on fi­nan­cial in­stru­ments mea­sured at fair value

 

–3,229

–3,077

Un­re­alised gains on fi­nan­cial in­stru­ments mea­sured at amor­tised cost

 

–382

–85

De­ferred in­come taxes

 

–1,382

–287

Net in­crease/​re­duc­tion in bank­ing

 

 

 

Amounts due from/​to banks, net

 

231,092

–205,006

Trad­ing port­fo­lios incl. re­place­ment val­ues, net

 

5,882

362

Amounts due from/​to clients

 

–99,200

14,972

Ac­crued re­ceiv­ables and other as­sets

 

–14,496

–7,164

Ac­cru­als and other li­a­bil­i­ties

 

–35,143

28,204

In­come taxes paid

10a

–11,608

–8,672

Used pro­vi­sions and val­u­a­tion al­lowances

 

–229

–4,347

For­eign-cur­rency im­pact on in­tra­group trans­ac­tions

 

904

8,364

Net cash flow from op­er­at­ing ac­tiv­i­ties

 

147,844

–86,429

 

 

 

 

Cash flow from in­vest­ment ac­tiv­i­ties

 

 

 

Pur­chase of fi­nan­cial in­stru­ments mea­sured at fair value

 

–18,835

–54,403

Pro­ceeds from sale of/​ma­tur­ing fi­nan­cial in­stru­ments mea­sured at fair value

 

26,995

47,934

Pur­chase of fi­nan­cial in­stru­ments mea­sured at amor­tised cost

 

–864,825

–580,498

Pro­ceeds from sale of/​ma­tur­ing fi­nan­cial in­stru­ments mea­sured at amor­tised cost

 

608,875

497,475

Ac­qui­si­tion of prop­erty and equip­ment and in­tan­gi­ble as­sets

 

–32,653

14,791

thereof from ac­qui­si­tions

46

0

53,414

Sale of prop­erty and equip­ment and in­tan­gi­ble as­sets

 

0

37

Net cash flow from in­vest­ment ac­tiv­i­ties

 

–280,443

–74,664

 

 

 

 

Cash flow from fi­nanc­ing ac­tiv­i­ties

 

 

 

Pur­chase of trea­sury shares

30

–17

–50

Sale of trea­sury shares

 

1,139

909

Pay­ment of lease li­a­bil­i­ties

 

–5,661

–6,145

Div­i­dend dis­tri­b­u­tions

 

–30,524

–24,289

Is­suance of medium-term bonds

 

8,163

14,752

Re­demp­tion of medium-term bonds

 

–20,947

–36,900

Re­demp­tion of deben­tures

26

0

–100,000

Net cash flow from fi­nanc­ing ac­tiv­i­ties

 

–47,847

–151,723

 

 

 

 

For­eign-cur­rency trans­la­tion im­pact

 

–10,828

–16,700

Net in­crease/​re­duc­tion in cash and cash equiv­a­lents

 

–191,274

–329,516

 

 

 

 

Cash and cash equiv­a­lents at the be­gin­ning of the fi­nan­cial year

 

2,875,841

3,205,357

Cash and cash equiv­a­lents at the end of the fi­nan­cial year

 

2,684,567

2,875,841

Net in­crease/​re­duc­tion in cash and cash equiv­a­lents

 

–191,274

–329,516

 

 

 

 

 

 

 

 

in CHF 1,000

Note

2022

2021

Cash and cash equiv­a­lents are rep­re­sented by

 

 

 

Cash

13

2,208,760

2,384,252

Re­ceiv­ables aris­ing from money mar­ket pa­per

 

9,995

0

Due from banks – at-sight bal­ances

15

465,812

491,589

To­tal cash and cash equiv­a­lents

 

2,684,567

2,875,841

 

 

 

 

Con­sol­i­dated state­ment of cash flow (sum­marised)

 

 

 

Cash and cash equiv­a­lents at be­gin­ning of ac­count­ing pe­riod

 

2,875,841

3,205,357

Cash flow from op­er­at­ing ac­tiv­i­ties, net of taxes

 

147,844

–86,429

Cash flow from in­vest­ing ac­tiv­i­ties

 

–280,443

–74,664

Cash flow from fi­nanc­ing ac­tiv­i­ties

 

–47,847

–151,723

For­eign-cur­rency trans­la­tion im­pact

 

–10,828

–16,700

Cash and cash equiv­a­lents at end of ac­count­ing pe­riod

 

2,684,567

2,875,841

 

 

 

 

Cash flow from op­er­at­ing ac­tiv­i­ties from in­ter­est and div­i­dends

 

 

 

In­ter­est paid

 

–36,090

–14,477

In­ter­est re­ceived

 

150,341

123,743

Div­i­dends re­ceived

 

7,349

7,360

At-sight bal­ances due from banks bear in­ter­est at daily rates or are in­vested in in­ter­est-bear­ing short-term money-mar­ket de­posits for be­tween one day and three months, de­pend­ing upon the liq­uid­ity re­quire­ments of VP Bank Group. In­ter­est rates are based upon equiv­a­lent mar­ket rates. The fair value of cash and cash equiv­a­lents amounts to CHF 2,684.6 mil­lion (2021: CHF 2,875.8 mil­lion).

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Rec­on­cil­i­a­tion be­tween cash flow from fi­nanc­ing ac­tiv­i­ties and the bal­ance sheet po­si­tions:

in CHF 1,000

Medium-term notes

Deben­tures is­sued

Lease li­a­bil­i­ties

To­tal vari­ance

 

 

in CHF 1,000

Medium-term notes

Deben­tures is­sued

Lease li­a­bil­i­ties

To­tal vari­ance

Rec­on­cil­i­a­tion be­tween cash flow from fi­nanc­ing ac­tiv­i­ties and the bal­ance sheet po­si­tions:

 

in CHF 1,000

Note

31.12.2022

31.12.2021

Vari­ance
ab­solute

Vari­ance from
cash flows

Changes in 
fair val­ues

Ef­fect of changes in for­eign ex­change rates

Ad­di­tions right of use as­sets

Other
vari­ances

Medium-term notes

25

41,180

53,997

–12,817

–12,784

–33

0

0

0

Deben­tures is­sued

26

255,081

255,134

–53

0

–53

0

0

0

Lease li­a­bil­i­ties

32

19,868

25,174

–5,306

–5,661

0

96

470

–211

To­tal vari­ance

 

 

 

–18,176

–18,445

–86

96

470

–211

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in CHF 1,000

Note

31.12.2021

31.12.2020

Vari­ance
ab­solute

Vari­ance from
cash flows

Changes in 
fair val­ues

Ef­fect of changes in for­eign ex­change rates

Ad­di­tions right of use as­sets

Other
vari­ances

Medium-term notes

25

53,997

76,148

–22,151

–22,148

–3

0

0

0

Deben­tures is­sued

26

255,134

355,205

–100,071

–100,000

–71

0

0

0

Lease li­a­bil­i­ties

32

25,174

28,985

–3,811

–6,145

0

119

2,042

173

To­tal vari­ance

 

 

 

–126,033

–128,293

–74

119

2,042

173

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