Private Banks

VP Bank Targets Robust Growth in Asia with Strategic Focus on Asset Management and Advisory Services

VP Bank has identified its main areas of focus in Asia, anticipated to be its fastest-growing market internationally.

This region, along with Europe, forms its second-largest business division. The bank's 2023 report revealed that this division managed 15.2 billion Swiss francs in assets and generated 146.5 million francs in operating income, though it did not specify the contributions from Europe and Asia separately.

The bank anticipates that while the European private banking sector will expand, growth rates in Asia will outpace those in Europe.

In terms of specific markets within Asia, VP Bank is concentrating on asset management and collaborations with external asset managers, viewing its private banking operations in Singapore as a complementary service that leverages synergies with its intermediary business. The bank has also pinpointed China, Indonesia, Malaysia, Taiwan, and Thailand as its key targeted markets in Asia.

For its Asian operations, VP Bank has rolled out two new advisory services, "VP Bank Advice Comfort" and "VP Bank Advice Premium," as of January 2023, and expanded its team by six members.

On a global scale, the bank experienced a 10.1 percent increase in net income to 44.2 million francs for the year 2023. Total client assets under management were reported to be stable at 46.4 billion francs, with net new money inflows of 27 million francs.