Consolidated income statement

2017

in 1,000 CHF

Current year

Previous year

Change

Change in %

Note

Interest and discount income

2,943,160

3,051,591

-108,431

-3.6

25

Interest and dividend income from financial investments

54,449

58,287

-3,838

-6.6

 

Interest expense

-747,106

-880,050

132,944

-15.1

25

Gross result from interest operations

2,250,503

2,229,828

20,675

0.9

 

Changes in value adjustments for default risks and losses from interest operations

-2,341

-10,418

8,077

-77.5

15

Net result from interest operations

2,248,162

2,219,410

28,752

1.3

 

Commission income from securities trading and investment activities

422,489

355,564

66,925

18.8

 

Commission income from lending activities

20,260

17,643

2,617

14.8

 

Commission income from other services

234,606

214,418

20,188

9.4

 

Commission expense

-183,016

-120,873

-62,143

51.4

 

Result from commission business and services

494,339

466,752

27,587

5.9

22

Result from trading activities and the fair value option

230,402

227,939

2,463

1.1

23

Result from disposal of financial investments

28,555

4,712

23,843

506.0

 

Income from participations

88,796

67,137

21,659

32.3

24

Result from real estate

20,566

20,989

-423

-2.0

 

Other ordinary income

209,678

119,790

89,888

75.0

 

Other ordinary expenses

-10,635

-18,308

7,673

-41.9

 

Other result from ordinary activities

336,960

194,320

142,640

73.4

 

Operating income

3,309,863

3,108,421

201,442

6.5

 

Personnel expenses

-1,395,392

-1,381,132

-14,260

1.0

26

General and administrative expenses

-618,087

-606,460

-11,627

1.9

27

Operating expenses

-2,013,479

-1,987,592

-25,887

1.3

 

Value adjustments on participations and depreciation and amortisation of tangible fixed assets and intangible assets

-188,433

-260,081

71,648

-27.5

6, 8, 9

Changes to provisions and other value adjustments, and losses

478

-6,034

6,512

-107.9

15

Operating result

1,108,429

854,714

253,715

29.7

 

Extraordinary income

119,373

75,062

44,311

59.0

28

Extraordinary expenses

-3,628

-4,172

544

-13.0

28

Changes in reserves for general banking risks

-80,000

-80,000

15

Taxes

-233,423

-173,768

-59,655

34.3

29

Group profit (including minority interests)

910,751

751,836

158,915

21.1

 

Minority interests in group profit

-6,317

-2,233

-4,084

182.9

 

Group profit

917,068

754,069

162,999

21.6