Concept
VP Bank AG is a Liechtenstein private bank headquartered in Vaduz, serving private clients and external asset managers. Type: an independent private bank listed on the SIX exchange (ticker VPBN) — the first Liechtenstein company to list in Zurich (1983). The anchor shareholder is the founder's Stiftung Fürstlicher Kommerzienrat Guido Feger with 46.6% of votes; the Princely Family owns LGT, not VP Bank — a common mix-up. Founded in 1956. The CEO is Urs Monstein (since May 2024); ratings are S&P A–/Negative and Moody's Aa2 for deposits.
History and evolution
Founded by Guido Feger in 1956; subsidiaries in Luxembourg and Zurich opened in 1988, a BVI joint venture in 1995, Singapore in 2008. In 2015 it absorbed Centrum Bank (~CHF 7bn of client assets). Strategy 2026 missed its targets: an efficiency package in August 2024 brought savings above CHF 20m, ~100 job cuts and the closure of the Hong Kong office; Asia was consolidated into Singapore. In 2025 the bank became the main shareholder of fund manager Embla (40%).
Assets under management stood at CHF 57.1bn at 30 June 2026 (+6.4% in half a year), with 2025 net income of CHF 47m and a Tier 1 ratio of 26%.
Regulation
- FMA Liechtenstein — VP Bank AG, Vaduz (licensed since 1956);
- FINMA — VP Bank (Schweiz) AG, Zurich;
- CSSF — VP Bank (Luxembourg) SA and VP Fund Solutions (Luxembourg) SA;
- MAS — the Singapore branch (Wholesale Bank licence since 2018);
- BVI FSC — VP Bank (BVI) Ltd, Road Town (banking licence since 1995).
Source of funds and compliance
Liechtenstein transposes the EU AML directives via the EEA; CRS/FATCA apply along with the standard source-of-funds file. In 2024 the bank cleaned up its client base, officially adjusting net new money for CHF 1.2bn of forced outflows and write-offs. No major public regulator fines were identified; the English Skew Base litigation was won on all issues in March 2025.
Who it serves
- HNW clients: no group minimum is published; the official product threshold is CHF 250,000 for the VP Vida Essential mandate; industry estimates cite CHF 500,000+ in Switzerland and ~CHF 1m in Liechtenstein (unofficial);
- external asset managers — a historic segment: the bank grew up on intermediaries and is a supporting member of Germany's VuV;
- non-residents booking in Vaduz, Zurich, Luxembourg, Singapore or the BVI;
- clients with prime real estate — the BVI entity's niche.
Services
Wealth management
- discretionary and advisory mandates (the VP Sensa / VP Vida / VP Auda line);
- wealth and succession planning.
Lending
- lombard loans and mortgages; a loan book of ~CHF 5.8bn.
Asset servicing
- custody and execution for external managers, private-label funds;
- VP Fund Solutions in Liechtenstein and Luxembourg, reinforced by the 40% stake in Embla Fund Management (2025).
Entities and booking centres
Five booking centres after the 2024 Hong Kong closure.
| Jurisdiction | Legal entity | Format and supervisor | Role for the client |
|---|---|---|---|
| Liechtenstein | VP Bank AG, Vaduz | parent bank, FMA | main booking centre |
| Switzerland | VP Bank (Schweiz) AG, Zurich | subsidiary, FINMA (since 1988) | booking centre |
| Luxembourg | VP Bank (Luxembourg) SA | subsidiary, CSSF (since 1988) | booking centre and fund solutions |
| Singapore | VP Bank Ltd, Singapore Branch | branch, MAS (Wholesale Bank) | Asia booking centre |
| BVI | VP Bank (BVI) Ltd, Road Town | subsidiary, FSC | booking; real-estate financing niche |
Hong Kong (VP Wealth Management (Hong Kong) Ltd and the rep office) was closed in 2024; Asian clients moved to Singapore.
Strengths
- public reporting and a SIX listing — rare transparency for the segment;
- strong ratings for its size: S&P A–, Moody's Aa2 deposits;
- a 26% Tier 1 ratio;
- a deep external-manager and fund-solutions niche;
- the BVI as a rare booking centre for structures and real estate.
Where it does not fit
- Hong Kong clients — the point closed in 2024, the nearest Asian centre is Singapore;
- those wanting deposit insurance in Asia: the wholesale branch sits outside SDIC;
- fortunes below the indicative CHF 500,000;
- private-markets investors: the proprietary offering was wound down in the 2024 efficiency package.
VP Bank is a listed Liechtenstein house with five booking centres and a strong intermediaries niche; it is working through a savings program after missing Strategy 2026, but capital and ratings remain solid for its size.
Q/A
Entry and geography
What minimum capital does VP Bank require?
No group threshold is published. The official benchmark is product-level: the VP Vida Essential mandate from CHF 250,000. Industry references cite CHF 500,000+ for Switzerland and ~CHF 1m for Liechtenstein; admission is individual.
Is VP Bank owned by the Princely Family of Liechtenstein?
No — that is a mix-up with LGT. VP Bank's anchor shareholder is the founder Guido Feger's foundation (46.6% of votes); the Princely Family owns LGT. VP Bank has been listed on the SIX since 1983.
What does the deposit guarantee cover?
Liechtenstein — the EAS foundation CHF 100,000; Switzerland — esisuisse CHF 100,000; Luxembourg — FGDL €100,000. Singapore (wholesale) and the BVI sit outside the schemes. Custody securities remain the client's property.
Strategy
Why did the bank close Hong Kong and cut costs?
Strategy 2026 missed its targets, so an efficiency package launched in August 2024: savings above CHF 20m by end-2026, ~100 positions cut and the Hong Kong closure, with Asian clients moved to Singapore (the bank claimed 99% retention).
What happened with Chinese partner Hywin?
In 2021 the bank announced cooperation and a small stake in China's Hywin Wealth; Hywin later collapsed. Client assets at VP Bank were unaffected — the episode concerned corporate cooperation.