VP Bank reported a 12.7% increase in net profit to CHF 32.4 million for the first half of 2026, driven by growth in commission and service income that offset declining net interest margins. The bank also maintained tight cost controls, further bolstering profitability.
Client assets under management rose 6.4% to CHF 57.1 billion, while new customer funds totaled CHF 1.4 billion, equating to an annualized growth rate of 5.2%. Operating income climbed 2.2% to CHF 171.6 million, while operating expenses fell 5.3% to CHF 135.2 million, reducing the cost-to-income ratio by 2.7 percentage points to 78.8%.
The bank’s restructuring efforts, initiated after a profit decline in 2024, included the closure of its Hong Kong office and workforce reductions in Europe, targeting total savings of CHF 20 million by 2026. VP Bank emphasized its strengthened capital and liquidity position, with its Tier-1/CET1 ratio improving to 26.0% and its Liquidity Coverage Ratio (LCR) standing at 157.6%, well above regulatory requirements.
Management expects net new money inflows to normalize in the second half of 2026, noting that seasonal trends typically weaken during this period. Despite the seasonal slowdown, the bank anticipates stable earnings and long-term value creation.
VP Bank is headquartered in Liechtenstein with a presence in Zurich.
