Information —

Alternative performance measures

Alternative performance measures are financial measures of historical or future financial performance, financial position or cash flows that are not defined in the IFRS. APMs provide useful information on the performance of the business. They also reflect aspects of operating targets and are monitored by VP Bank Group's Executive Board.

The alternative performance measures used in this report should be regarded as complementary information to the IFRS performance measures. They comply with the SIX Swiss Exchange's Directive on the Use of Alternative Performance Measures (DAPM). APMs do not have any standardised meaning and may not be comparable with similar measures used by other companies.

Amounts counted twice

This position encompasses fund units of self-administered investment funds which are held in client portfolios subject to a discretionary asset-management agreement or other client security deposit accounts. 

Assets in discretionary asset management accounts

The calculation of assets in discretionary asset management accounts encompass securities, instruments with rights to securities, precious metals, the market value of fiduciary deposits placed with third parties, as well as client deposits. The position includes both assets deposited with Group companies and with third parties which are the object of a discretionary asset-management agreement with a Group company.

Assets in self-administered funds

This position contains the assets of all investment funds managed and administrated by VP Bank Group.

Business volume

Calculated as the sum of client assets under management and amounts due from customers.

Client assets under management

Client assets under management comprise all client assets that are placed with us for investment purposes for which investment advisory or discretionary asset management services are provided. In principle, all amounts owed to clients, fiduciary deposits, and all assets with value held in client securities accounts are included. The calculation is in accordance with the guidelines outlined in the Liechtenstein Banking Ordinance (Appendix 3, Section 88a, FL-BankO) and supported by the internal policies of VP Bank Group.

Cost/income ratio (in %)

Total operating expenses / total operating income (cost/income Ratio as per VP Bank Group Strategy 2026).

Cost/income ratio operating income (in %)

Calculated as operating expenses (excluding depreciation and amortisation, valuation allowances, provisions and losses) / operating income less other income and income from financial instruments.

Custody assets

Assets held exclusively for the purposes of trading and custody for which the involvement of VP Bank Group is limited to custodian and collection activities.

Dividend Yield (in %)

Calculated as Dividend per registered share / quoted price per registered share (yearend closing price).

Equity of all registered shares A

Total equity / total issued registered shares A and B * issued registered shares A.

Equity of all registered shares B

Total equity / total issued registered shares A and B * issued registered shares B.

Equity ratio (in %)

Shareholders' equity in relation to total liabilities and shareholders' equity.

Gross margin on client assets under management (bps)

Calculated as annualized operating income / average assets under management.

Market capitalisation (in CHF million)

Calculated as the number of registered shares A issued * the closing price for registered shares A + the number of registered shares B issued * the market price for registered shares B.

Net income per registered share A

Calculated as net income / weighted average of registered shares A issued.

Net income per registered share B

Calculated as net income per registered share A / 10.

Net new money inflows/outflows

This position is comprised of new clients, client departures, and inflows or outflows from existing clients. Performance-related changes in assets such as share price movements, interest and dividend payments and interest charged to clients are not considered as inflows or outflows. Movements arising due to a business acquisition or sale are presented separately and do not represent an inflow or outflow of net new money. If the service provided changes and if assets under management are reclassified as assets held for custody purposes, or vice versa, this will generally be recognized, respectively, as an outflow or inflow of net new money.

On-balance-sheet customer deposits

Calculated as the sum of the balance sheet positions due to customers in the form of savings and deposits + due to customers in the form of other liabilities + medium-term notes.

Other client assets under management

The calculation of other client assets under management encompass securities, instruments with rights to securities, precious metals, the market value of fiduciary deposits placed with third parties, as well as client deposits. The position includes assets which are the object of an administration or advisory mandate.

Payout ratio (in %)

Calculated as dividend per registered share A / net income per registered share A.

Return on equity (in %)

Calculated as net income / average shareholders' equity less dividends.

Return on investment

Calculated as net income / average total assets.

Segment earnings / average client assets under management (bps)

Calculated as annualized segment earnings before income tax / average assets under management.

Shareholders' equity per registered share A outstanding on the balance-sheet date

Total equity / total number of weighted shares less the number of treasury shares.

Shareholders' equity per registered share B outstanding on the balance-sheet date

Total equity / total number of weighted shares less the number of treasury shares / 10.

Total shareholders' return on registered shares A (in %)

Calculated as the price change compared to the previous year closing price plus dividend / the previous year closing price.