VP Bank posted better-than-expected results this year, lifting its net profit and revenue.
Liechtenstein's VP Bank expects a first-half net profit of 35 million Swiss francs ($35.5 million), compared to a 29 million franc profit last year, it said in a statement on Monday. The Vaduz-based lender said the result reflects favorable financial markets as well as the fruits of its long-term strategy.
VP's revenue climbed ten percent to 163 million francs, while spending advanced 5 percent to 123 million. VP, which reports full results August 20, said net new money inflows from last year – when it won 3.2 billion francs from clients – continued in the first six months of this year.
