Preliminary information: VP Bank's growth strategy bears fruit – market environment, however, influences profitability
The net new money inflow’s positive trend continued in the 2018 financial year. At approximately CHF 3.2 billion (2017: CHF 1.9 billion), VP Bank Group generated its highest organic net new money inflow in more than ten years. As a result, the Bank remains on track with its growth strategy.
The persistently low interest rate environment and the interest rates and equity markets’ development had a negative impact on the operating income of around CHF 291 million (2017: CHF 300.1 million). Operating expenses amounted to approximately CHF 232 million (2017: CHF 229.8 million). This led to a 17 percent lower group net income of around CHF 55 million (2017: CHF 65.8 million).
These are unaudited figures based on provisional calculations. The annual results for 2018 and the annual report with the final figures will be published as announced on 5 March 2019. No further information on the course of business will be provided until then.