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VP Bank reports profit decline and plans growth initiatives amid restructuring

VP Bank reported a significant decline in net profit for 2024, dropping to CHF 18.5 million from CHF 44.2 million the previous year, impacted by restructuring costs. Despite a 9.5% increase in client assets to CHF 50.7 billion, the bank's operating income fell by 9.3% to CHF 330.5 million, leading to a proposed lower dividend of CHF 4.00 per share. The bank is implementing efficiency measures and targeted growth initiatives while reducing its workforce by 6.1% to 945 positions.
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Swiss Franc LIE Barbara Ofner Beat Graf Stephan Ochsner Ursula Lange Show more
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18:08 14.03.2025
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