Information on the income statement

22. Results from commission business and services

in 1,000 CHF

Current year

Previous year

Commission income

 

 

Commission income from securities trading and investment activities

 

 

Fund business

81,199

91,658

Custody account business

80,492

76,223

Brokerage

89,668

74,967

Asset management business

65,099

74,664

Other securities trading and investment activities

106,031

38,052

Commission income from lending activities

20,260

17,643

Commission income from other services

 

 

Payments

157,089

148,934

Account maintenance

33,737

24,876

Other services

43,780

40,608

Total commission income

677,355

587,625

Commission expense

 

 

Securities business

-96,955

-41,942

Payments

-70,437

-67,227

Other commission expense

-15,624

-11,704

Total commission expense

-183,016

-120,873

Total results from commission business and services

494,339

466,752

23. Result from trading activities and the fair value option

23.1 Breakdown by business area

 

 

 

in 1,000 CHF

Current year

Previous year

Raiffeisen Switzerland Cooperative

79,522

84,222

Raiffeisen banks

129,457

119,061

Group companies

21,423

24,656

Total result from trading activities

230,402

227,939

23.2 Breakdown by underlying risk and based on the use of the fair value option

in 1,000 CHF

Current year

Previous year

Result from trading activities from:

 

 

Foreign exchange trading

131,671

129,076

Precious metals and foreign notes and coins trading

73,431

66,475

Equities trading

3,815

994

Fixed income trading

23,485

31,394

Other

-2,000

Total result from trading activities

230,402

227,939

of which, from fair value option

421

10,198

of which, from fair value option on assets

62

of which, from fair value option on liabilities

421

10,136

24. Income from participating interests

in 1,000 CHF

Current year

Previous year

Participations valued according to the equity method

69,543

47,332

Other non-consolidated participations

19,253

19,805

Total income from participating interests

88,796

67,137

25. Negative interest

in 1,000 CHF

Current year 1

Previous year 1

Negative interest on lending business (Reduction in interest and discount income)

56,000

53,681

Negative interest on deposit-taking business (Reduction in interest expense)

61,821

55,882

1 Negative interest relates primarily to hedging transactions and transactions with banks.

26. Personnel expenses

in 1,000 CHF

Current year

Previous year

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

24,000

24,416

Salaries and benefits for staff

1,098,718

1,094,007

AHV, IV, ALV and other statutory contributions

98,183

97,861

Contributions to staff pension plans

123,662

119,713

Other personnel expenses

50,829

45,135

Total personnel expenses

1,395,392

1,381,132

27. General and administrative expenses

in 1,000 CHF

Current year

Previous year

Office space expenses

92,698

96,469

Expenses for information and communications technology

120,187

106,767

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

29,108

28,406

Fees of audit firms

13,571

13,248

of which, for financial and regulatory audits

13,037

13,074

of which, for other services

534

174

Other operating expenses

362,523

361,570

Total general and administrative expenses

618,087

606,460

28. Extraordinary income and expenses

Current year

The extraordinary income of CHF 119.4 million mainly consists of CHF 115.8 million in income from the sale of tangible fixed assets and participations (of which CHF 104.1 million came from the sale of the participations in Helvetia Holding Ltd and Avaloq Group AG).

The extraordinary expenses of CHF 3.6 million include losses from the sale of tangible assets of CHF 3.1 million.

Previous year

The extraordinary income of CHF 75.1 million mainly consists of CHF 72.7 million in income from the sale of tangible fixed assets and participations (of which CHF 63.7 million came from the sale of the Vescore Group).

The extraordinary expenses of CHF 4.2 million include losses from the sale of tangible assets of CHF 3.8 million.

29. Current and deferred taxes

in 1,000 CHF

Current year

Previous year

Creation of provisions for deferred taxes

55,934

20,651

Expenses for current taxes

177,489

153,117

Total tax expenses

233,423

173,768

Average tax rate weighted on the basis of the operating result

21.1%

20.3%

Tax loss carryforwards exist at several Raiffeisen banks and Group companies. It was possible to set off the previous year's tax-relevant net profit against tax loss carryforwards that had not yet been used. The influence on the tax expenditure of the Raiffeisen Group is insignificant.