Case study: How VP Bank identifies and works on strategic business opportunities to increase positive and reduce negative impacts
VP Bank Group provides its services across major financial hubs within its home market of Liechtenstein as well as in five international locations: Switzerland, Luxembourg, Singapore, Hong Kong, and the British Virgin Islands. Each location concentrates on its particular target markets, enabling a focused approach and customized offerings that meet local needs. As of the end of 2023, VP Bank Group’s client assets under management totalled CHF 46.4 billion. VP Bank is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, identifying and working on strategic business opportunities to increase positive and reduce negative impacts. Tweet This!
This case study is based on the 2024 PRB Reporting and Self-Assessment Template by VP Bank prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How VP Bank proceeded with stakeholder identification and consultation, and
- How VP Bank identified and worked on strategic business opportunities to increase positive and reduce negative impacts
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
A key element in the execution and oversight of VP Bank’s Sustainability Plan 2026 is stakeholder engagement. The bank maintains regular interactions with both internal and external stakeholders, enabling early identification of emerging trends, incorporation of insights into its activities, and the promotion of a responsible banking culture across the Group through training and awareness initiatives.
In 2023, VP Bank conducted an in-depth dialogue with its stakeholders. As part of a double materiality analysis aligned with CSRD/ESRS, the bank surveyed numerous clients, employees, suppliers, and other stakeholders to identify the sustainability issues they considered most material to VP Bank. The bank greatly appreciates this valuable input, as these insights are essential for shaping VP Bank’s strategy and will help refine its sustainability approach. The results will be reflected in the Sustainability Statement published as part of VP Bank’s 2025 Annual Report.
How did VP Bank identify and work on strategic business opportunities to increase positive and reduce negative impacts?
In its 2024 PRB Reporting and Self-Assessment Template VP Bank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:
In 2023, VP Bank launched the new VP Bank Nova product line, designed specifically to meet the needs of the next generation of clients. These products offer a digital client experience, transparent pricing, personalized, value-oriented and sustainable investments, along with a transparent portfolio. With VP Bank Nova, VP Bank provides bespoke private banking services tailored to young clients.
In addition to expanding its product range, VP Bank has increasingly focused on financial education for children. Recognizing that financial literacy is a vital investment in children’s futures, VP Bank believes it is essential to teach them money management from an early age. This enables children to control their spending, save effectively, and develop an understanding of capital markets both as children and adults. Generally, children are introduced to financial concepts too late, as such education is rarely provided in schools. VP Bank aims to make a proactive contribution to improving financial literacy.
Furthermore, VP Bank acknowledges the unique financial needs of women and supports their aspirations. The bank understands that women often face distinct challenges on their financial journeys—from navigating career changes to planning for retirement and beyond for both themselves and their families. Thus, VP Bank is dedicated to offering tailored resources and support through its Female Finance Community.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by VP Bank, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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