After thorough internal discussions, VP Bank (Switzerland) Ltd. has decided to participate in the US programme in Category 2. This decision does not rule out the possibility of switching to Category 3 at a later date. VP Bank (Switzerland) Ltd. focuses mainly on the Swiss and Eastern Europe markets and has neither been active in the USA nor systematically acquired US clients. By taking this decision, the Bank is seeking a swift, sustainable and quantifiable solution based on a high level of risk assessment and legal certainty. Despite the expense involved in participating in the US programme, VP Bank Group expects to record solid annual results for 2013.
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