Information on the income statement

22. Result from interest operations

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Interest and dividend income

 

 

Interest income from amounts due from Raiffeisen banks

126,696

188,576

Interest income from amounts due from other banks

-2,170

-5,100

Interest income from securities financing transactions

318

-149

Interest income from amounts due from clients

29,627

27,335

Interest income from mortgage loans

140,640

140,665

Interest and dividend income from financial investments

48,337

52,852

Other interest income

25,012

21,479

Total interest and dividend income

368,460

425,658

of which negative interest on the lending business

-56,554

-53,327

Interest expenditure

 

 

Interest expenditure from amounts due to Raiffeisen banks

23,985

27,698

Interest expenditure from amounts due to other banks

7,544

10,872

Interest expenditure from securities financing transactions

-2,216

220

Interest expenditure from amounts due to clients

-15,436

-17,204

Interest expenditure from cash bonds

-1,201

-1,520

Interest expenditure from bond issues and central mortgage institution loans

-117,917

-120,316

Other interest expenses

-137,131

-201,863

Total interest expenditure

-242,372

-302,113

of which negative interest on the borrowing business

61,350

59,300

Gross result from interest operations

126,088

123,546

23. Result from commission business and services

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Commission income

 

 

Commission income from securities and investment business

 

 

Fund business

12,524

10,000

Custody account business

24,414

23,193

Brokerage

17,184

13,810

Other securities and investment business

19,568

2,970

Commission income from lending business

13,395

8,151

Commission income from other service transactions

 

 

Payments

52,913

51,308

Account maintenance

2,553

2,247

Other service transactions

4,245

3,514

Total commission income

146,796

115,193

Commission expenditure

 

 

Securities business

-40,554

-26,012

Payments

-2,821

-2,831

Other commission expenditure

-911

-4,465

Total commission expenditure

-44,286

-33,308

Total net income from commission business and service transactions

102,510

81,885

24. Result from trading activities

24.1 Breakdown by business area

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Branches of Raiffeisen Switzerland

7,763

6,612

Equities trading desk

4,007

2,006

Algorithmic trading desk

-862

Foreign currency trading desk

10,878

10,569

Fixed income trading desk

11,228

13,548

Macro hedge trading desk

-564

-1,566

Banknotes/precious metals trading desk

40,767

44,583

Options trading desk

-215

1,093

Rates trading desk

6,785

8,238

Combined trading operations

-1,127

Total net trading income

79,522

84,222

24.2 Breakdown by underlying risk

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Foreign exchange trading

17,382

16,596

Precious metals and foreign notes and coins trading

43,280

45,206

Equities trading

3,414

945

Fixed income trading

17,445

21,475

Other

-2,000

Total net trading income

79,522

84,222

25. Other ordinary income

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

IT services for Group companies

61,384

60,719

Other individual services provided for Group companies

205,680

185,481

Contributions from the Raiffeisen banks for collective and strategic services

78,762

77,651

Charges for internal services relating to Group projects

55,406

61,710

Other

2,280

2,411

Total other ordinary income

403,513

387,971

26. Personnel expenses

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Meeting attendance fees and fixed compensation to members of the banking authorities

2,367

1,994

Salaries and bonuses for staff

308,459

289,775

AHV, IV, ALV and other statutory contributions

23,667

21,979

Contributions to staff pension plans

38,817

33,904

Other personnel expenses

7,801

7,039

Total personnel expenses

381,111

354,690

27. General and administrative expenses

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Office space expenses

30,904

30,900

Expenses for information and communications technology

87,332

93,758

Expenses for vehicles, equipment, furniture and other fixtures, as well as operating lease expenses

3,921

3,875

Auditor fees

3,333

2,598

of which, for financial and regulatory audits

3,091

2,525

of which, for other services

242

73

Other operating expenses

129,164

124,749

Total general and administrative expenses

254,653

255,880

28. Extraordinary income and expenses

Current year

The extraordinary income of CHF 116.3 million includes CHF 104.1 million from the sale of participations in Helvetia Holding Ltd and Avaloq Group AG. CHF 11.2 million was generated from the sale of real estate. The appreciation gain for Raiffeisen Unternehmerzentrum AG was CHF 1 million.

Extraordinary expenses include losses on the sale of Vescore Ltd of CHF 0.4 million and on the sale of DB Bank AG of CHF 0.3 million.

Prior year

The extraordinary income of CHF 9.2 million consisted primarily of the sale of VISA Europe Limited shares for CHF 4.5 million and an appreciation gain of CHF 4 million for Raiffeisen Unternehmerzentrum AG.

Extraordinary expenses include CHF 26 million in losses on the sale of Vescore Ltd.

29. Current taxes

 

Current year in 1,000 CHF

Previous year in 1,000 CHF

Expenditure for current income tax

5,035

2,767

Total tax expenditure

5,035

2,767

Average tax rate weighted on the basis of the operating result

13.5%

-3.7%

There are no tax loss carryforwards that affect income tax. Deferred tax is solely calculated and reported at the Raiffeisen Group level.