A private banking firm operating from Vaduz predicts it will report a large rise in income from a banking acquisition, and said assets under management rose last year.

VP Bank Group, the Liechtenstein-headquartered private banking firm, is expecting “substantially” higher group net income for 2015 compared with the previous year, of about SFr64 million ($62.9 million), driven partly by its merger with Centrum Bank last year.

Full-year results will be issue on 8 March, the bank said in a statement today.

Net income for the bank in 2014 was SFr20 million and the figures for last year will be affected by its purchase of Centrum, VP Bank said.

Against this backdrop, gross income of SFr307 million was achieved in 2015, while operating expenses totalled SFr182 million. As at the end of 2015, client assets under management at VP Bank Group amounted to SFr34.8 billion, up around 12 per cent on the previous year level of SFr30.9 billion.