ZURICH, June 18 VP Bank said on
Wednesday that net profit for the first half of this year would
be "significantly lower" than the prior-year period, citing
declining interest rates.
"The declining interest rate environment in the first half
of 2014 is putting pressure on the valuation of interest rate
hedging transactions," the Liechtenstein-based bank said in a
The bank, which posted consolidated net profit of 28.3
million Swiss francs ($31.4 million) in the first half of last
year, is due to report results for the first six months of 2014
on Aug. 26.
($1 = 0.9005 Swiss Francs)
(Reporting by Caroline Copley; Editing by Prateek Chatterjee)