The first half of 2019 developed very positively for VP Bank Group. Earnings rose some 20 per cent from CHF 29.3 million to reach approximately CHF 35 million. Operating income rose to around CHF 163 million (in the first half of 2018: CHF 147.9 million), while operating expenses during the same period increased by a smaller margin to reach some CHF 123 million (during the first half of 2018: CHF 115.5 million). In addition to the positive market environment, the result above all reflects the long-term growth strategy of VP Bank Group. The positive development of net new money in the year 2018 continued during the first half of 2019.
These are unaudited figures pursuant to provisional calculations. As previously announced, the interim results will be reported and the semi-annual report will be published with definitive figures on 20 August 2019. Until then, no further information will be released about the performance of the business.