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The Annual General Meeting of the Liechtenstein Chamber of Commerce and Industry was held on May 12, 2025, in Schaanwald, with around 60 representatives from various sectors in attendance. President Klaus Risch highlighted the chamber's activities and recognized Ludwig Elkuch AG and Inficon AG for their long-standing memberships. The Board of Directors was re-elected for the term 2025-2028, with all existing members confirmed, and Minister of Economic Affairs Hubert Büchel addressed key ministry topics during the event.
At the Finance Forum in Vaduz, Prince Max highlighted LGT's dominance in Liechtenstein's banking sector, managing over 80% of assets. Discussions ranged from geopolitical concerns to the transformative potential of AI in finance, while warnings about authoritarian threats in Europe were issued. Despite global banking uncertainties, optimism prevailed, with over 78% of attendees rating the financial industry's state as good or excellent.
VP Bank has attracted investor interest with a significant dividend payout and a strategic shift towards Asia, particularly focusing on Singapore after closing its Hong Kong office. The share price reached a 52-week high of EUR 90.50, reflecting a 5.85% increase over the past month, despite high volatility. Recent board changes and a commitment to client engagement signal cautious optimism for the bank's future.
VP Bank is enhancing its presence in Singapore by sponsoring 16-year-old golfer Chen Xingtong at the Swiss Ladies Open, reflecting its commitment to strategic sponsorships that foster client relationships. Despite recent challenges, Singapore remains vital to the bank's growth, emphasizing synergies between private clients and intermediaries. The bank aims to meet evolving client expectations by offering meaningful engagements that align with their values, beyond traditional financial services.
VP Bank is enhancing client relationships through immersive experiences and purposeful partnerships, exemplified by events like the golf simulator and sponsorship of rising star Chen Xingtong. The bank emphasizes authentic connections and shared values, aiming to empower the next generation while aligning with clients' aspirations for long-term success. Initiatives such as the VP Bank Swiss Ladies Open further illustrate this commitment to fostering talent and creating meaningful engagement opportunities.
VP Bank's 62nd annual general meeting in Vaduz revealed a strategic shift following a challenging 2024, with shareholders approving a dividend of CHF 4 per share A, yielding 5.2%. Despite a decline in share price, client activities showed growth, and the bank is optimistic about 2025, aiming to leverage market instability. New board members include Dr. Stephan Ochsner and Barbara Ofner, enhancing governance expertise.
VP Bank is facing significant turmoil, with profits plummeting over 50% to just under 19 million in 2024. CEO Mara Harvey has been dismissed, and two experienced customer advisors from the offshore division have resigned, raising concerns about the bank's future under operational-focused leadership. The management's inability to stabilize the situation has left many questioning the direction of VP Bank.
VP Bank Group reported a 58.2% drop in net profit for 2024, totaling SFr18.5m, down from SFr44.2m in 2023. Operating income fell 9.3% to SFr330.5m, primarily due to a 23.5% decline in net interest income, while client assets under management rose 9.5% to SFr50.7bn. The bank is implementing efficiency measures aiming for at least SFr20m in savings by 2026, despite a challenging environment.
VP Bank is implementing drastic cost-cutting measures, including layoffs and the cancellation of executive bonuses, following a 58% drop in group profit for 2024. The bank aims to enhance revenue in 2025 by focusing on its core regions and launching growth initiatives, while also addressing the cleanup of customer relationships linked to Russia. Two new board members, Stephan Ochsner and Barbara Ofner, will be proposed at the upcoming General Meeting.
VP Bank has shown a promising start to 2025, with its share price fluctuating around EUR 85.00 and a market capitalization of approximately EUR 511.3 million. Despite a slight decline of 0.29 percent recently, the bank has recorded a monthly gain of 3.96 percent, reflecting a stable position in the financial sector. The institution continues to focus on digital transformation as part of its strategic plan for modernization.
Urs Monstein
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