Analysts

Under the analyst's microscope

Currently, three sell-side analysts cover VP Bank with their own research, which includes their own opinions and forecasts on VP Bank.

Financial analysts

List of sell-side analysts who currently cover VP Bank shares with their own research:

Company

Analyst

Telephone

Kepler Cheuvreux Tobias Lukesch +49 69 7569 6217
Research Partners AG Rainer Skierka +41 44 533 40 30
Zürcher Kantonalbank Michael Klien

+41 44 292 35 87

Consensus pre H1 2024

The consensus published here is based on estimates received from analysts. The above listed analysts were asked to submit their estimates for each of the values listed herein to facilitate comparisons. VP Bank received estimates from 3 analysts in the period from 15 of July to 5 of August, 2024. The consensus published here is based on the arithmetic mean of the estimates received.

VP Bank Analyst Consensus (last updated 05.08.2024)

CHF mn H1 2023 H2 2023 FY 2023 H1 2024 H2 2024 FY 2024 FY 2025 FY 2026
                 
Total net interest income 72,1 61,6 133,6 53,3 52,5 105,8 108,4 112,8
Total net income from commission business and services 69,8 68,1 137,9 72,1 74,1 146,2 152,2 156,8
Income from trading actvities 38,7 46,6 85,3 39,2 35,1 74,3 74,1 74,0
Income from financial instruments 5,3 0,7 6,0 2,9 3,2 6,1 6,1 6,1
Other income 2,5 -0,8 1,6 1,2 1,2 2,4 2,4 2,4
Total operating income 188,3 176,1 364,4 168,7 166,0 334,7 343,2 352,2
                 
Personnel expenses 89,8 85,9 175,8 89,7 85,7 175,4 174,7 176,3
General and administrative expenses 40,9 43,6 84,5 41,6 42,5 84,1 83,1 81,2
Depreciation of property, equipment and intangible assets 22,3 23,7 45,9 22,0 21,7 43,7 43,1 42,8
Credit loss expenses 4,5 0,4 5,0 0,5 2,1 2,6 2,6 2,6
Provisions and losses 0,7 1,7 2,4 0,3 0,7 1,0 1,0 1,0
Operating expenses 158,2 155,1 313,5 154,3 153,8 308,1 306,0 306,5
                 
Earnings before income tax 30,0 20,9 50,9 14,5 14,6 29,1 39,8 48,2
Taxes on income 4,6 2,1 6,7 2,1 1,8 3,9 5,7 6,9
                 
Group net income 25,5 18,7 44,2 12,4 12,8 25,2 34,1 41,3
                 
CHF bn H1 2023 H2 2023 FY 2023 H1 2024 H2 2024 FY 2024 FY 2025 FY 2026
Total client assets under management (CHF bn) 47,2 46,4 46,4 48,7 48,9 48,9 52,0 55,6
Total client assets (CHF bn) 52,8 51,1 51,1 50,7 51,8 51,8 54,8 58,7
Loans (CHF bn) 5,4 5,5 5,5 5,4 5,6 5,6 5,7 6,0
Net new money 0,1 -0,1 0,0 0,3 0,4 0,7 1,4 1,7
                 
Ratios (%) H1 2023 H2 2023 FY 2023 H1 2024 H2 2024 FY 2024 FY 2025 FY 2026
Cost/Income Ratio 84,1 88,1 86,0 91,4 92,7 92,0 89,1 87,0
Tier 1 Ratio 23,4 24,9 24,9 23,7 24,1 24,1 23,7 23,6
                 
Per share date (CHF) H1 2023 H2 2023 FY 2023 H1 2024 H2 2024 FY 2024 FY 2025 FY 2026
Dividend per share na na 5,00 na na 4,3 4,7 5,0

VP Bank wishes to emphasize that the consensus forecasts provided herewith are solely based on the contributing analysts' opinions, forecasts and estimates regarding the company's performance. VP Bank has not verified any of the information provided by the analysts and does not make any representation concerning its accuracy and completeness. The consensus forecasts do not in any way represent opinions, forecasts or estimates of VP Bank and its management. VP Bank does not express any opinion in respect of the analysts' opinions, forecasts or estimates and does not by providing these consensus forecasts imply, and expressly disclaims, any endorsement of or concurrence with any information, estimates, forecasts, opinions, conclusions or recommendations made or provided by such analysts. VP Bank does not assume any liability for the accuracy of the consensus forecasts and undertakes no obligation to update or revise such forecasts. This document is provided purely for informational purposes.

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