Business division result

Thanks to the recovery on the financial markets, we can report a positive result. Operating income rose to CHF 135.4 million (previous year: CHF 2.5 million). Price gains with financial investments, booked at fair value through profit and loss, amounted to CHF 33.2 million, and the non-realised price gains from investments in associates to CHF 31.6 million. Operating expenses increased by 58.3 percent to CHF 87.6 million (previous year: CHF 55.3 million). The segment result before tax stood at CHF 47.8 million (previous year: minus CHF 52.8 million). Client assets were up by 11.3 percent to CHF 4.5 billion (previous year: CHF 4.0 billion).

Asset allocation of own investments

2006–2009, in percent

Corporate Center – Asset allocation of own investments (bar chart)

Segment reporting

 

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in CHF thousands

2009

2008

+/– %

Net interest income

56'867

62'072

–8.4

Net fee and commission income

11'131

11'971

–7.0

Net trading income

–1'718

7'419

–123.2

Net income from financial investments
at fair value through profit and loss

33'156

–16'933

–295.8

Share of net income from investments
in associates

31'605

–67'302

–147.0

Other income

4'378

5'285

–17.2

Total operating income

135'419

2'512

5'290.9

Personnel expenses

–47'569

–46'160

3.1

General and administrative expenses

–32'686

–36'963

–11.6

Depreciation and amortisation

–11'138

–8'438

32.0

Value adjustments, provisions and losses

–32'241

0

 

Services from/to segments

36'032

36'235

–0.6

Total operating expenses

–87'602

–55'326

58.3

Business division profit before tax

47'817

–52'814

–190.5

Performance figures

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2009

2008

Net new money (in CHF millions)

–871

102

Growth of net new money (in percent)

–21.6

1.8

Additional information

 

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in CHF millions

31.12.2009

31.12.2008

+/– %

Assets under management

4'495

4'040

11.3

Employees (full time equivalents, in positions)

331

316

4.7