The foundations for success were laid last year when the bank achieved a 19.7% increase in net profits, with return on equity up to 15.8%, a 7.2% growth in Tier 1 capital and a reduction in the non-performing loans ratio to an impressive 0.2%, from 0.25% the previous year, while client assets grew by 18.1%.
The group has undertaken expansion initiatives in its core market and elsewhere. In Europe, VP Bank is expanding its onshore client base in Germany and Switzerland, while establishing itself as a private bank for high-net-worth individuals in the Middle and Far East. VP Bank’s core competencies are focused on generating added value for the client through a comprehensive advisory approach, standardised processes and custom-tailored solutions. The bank is redefining its investment process on an ongoing basis. The broadening of the group’s investment universe to 14 asset classes provides clients with additional opportunities for risk diversification.
On the efficiency front, VP Bank is promoting client focus and implementing a culture of continuous improvement through the use of the total quality management model European Foundation for Quality Management. The replacement of the existing group-wide banking software package through the quasi market standard Avaloq system will further boost the seamless integration of processes and will offer a flexible platform for future partnerships. In conjunction with its international expansion, VP Bank has adapted its structure and created optimal circumstances for long-term growth.
