Business segment result

The Private Banking Business Segment recorded pleasing growth in net new money in the markets of Central and Eastern Europe, the Near and Middle East, and Austria in 2012. We registered outflows in the traditional cross-border markets. Nevertheless, the net new money inflow in 2012 amounted to CHF 143 million, corresponding to an increase of 0.9 percent. Client assets rose by 6.4 percent to CHF 17.3 billion (31 December 2011: CHF 16.2 billion).

Net interest income after credit loss expense fell by 8.4 percent to CHF 12.1 million (2011: CHF 13.2 million). Net fee and commission income decreased by 2.6 percent to CHF 69.7 million (2011: CHF 71.6 million). In total, operating income declined by 7.5 percent to CHF 91.0 million (2011: CHF 98.4 million). Operating expenses decrease by 2.0 percent to CHF 72.3 million (2011: CHF 73.7 million). The Cost-Income-Ratio fell to 64.2 percent (2011: 65.5 %).

The segment profit before tax stood at CHF 18.7 million, 24.0 percent under the level of the previous year (2011: CHF 24.7 million).

Segment reporting

 

(XLS:)

 

 

 

 

in CHF thousands

2012

2011

+/– %

Net interest income

22'208

23'256

–4.5

Credit loss (expense)/recovery

–10'100

–10'032

0.7

Net interest income after credit loss expense

12'108

13'224

–8.4

Net fee and commission income

69'729

71'588

–2.6

Net trading income

9'197

13'610

–32.4

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

0

0

 

Share of net income of associates

0

0

 

Other income

0

0

 

Total operating income

91'034

98'422

–7.5

Personnel expenses

–26'591

–29'955

–11.2

General and administrative expenses

–14'094

–7'931

77.7

Depreciation and amortisation

–129

–135

–4.4

Services from/to segments

–31'476

–35'726

–11.9

Total operating expenses

–72'290

–73'747

–2.0

Segment profit before tax

18'744

24'675

–24.0

Performance figures

(XLS:)

 

 

 

 

2012

2011

*

Operating expenses excluding provisions for legal and litigation risks and allowances for non-current assets held for sale in proportion to operating income excluding credit loss expenses for credit risks.

**

Operating income excluding credit loss expense in proportion to average business volumes.

Net new money (in CHF millions)

143

 

Growth of net new money (in percent)

0.9

 

Cost-Income-Ratio (in percent)*

64.2

65.5

Gross margin (in basis points)**

54.5

 

Additional information

 

(XLS:)

 

 

 

 

 

31.12.2012

31.12.2011

+/– %

Business volumes (in CHF millions)

19'038

18'098

5.2

Assets under management (in CHF millions)

17'262

16'221

6.4

Employees (full-time equivalents, in positions)

182

 

 

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