Liechtenstein-based Verwaltungs- und Privatbank AG said Tuesday it swung to a net loss in 2008 and suffered massive outflows of client funds, signaling deepening problems for the country as a financial center against a worsening economic backdrop.

The Vaduz-based bank for the wealthy's net loss for the 12 months was 83.2 million Swiss francs ($72.3 million), from a net profit of CHF157.8 million on year ago.