Consolidated income statement 

2018

in 1,000 CHF

Current year

Previous year

Change

Change in %

Note

Interest and discount income

2,895,035

2,943,160

-48,125

-1.6

25

Interest and dividend income from financial investments

48,584

54,449

-5,865

-10.8

 

Interest expense

-652,937

-747,106

94,169

-12.6

25

Gross result from interest operations

2,290,682

2,250,503

40,179

1.8

 

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

-62,735

-2,341

-60,394

n.a

15

Net result from interest operations

2,227,947

2,248,162

-20,215

-0.9

 

Commission income from securities trading and investment activities

373,275

422,489

-49,214

-11.6

 

Commission income from lending activities

21,377

20,260

1,117

5.5

 

Commission income from other services

224,240

234,606

-10,366

-4.4

 

Commission expense

-168,113

-183,016

14,903

-8.1

 

Result from commission business and services

450,779

494,339

-43,560

-8.8

22

Result from trading activities and the fair value option

210,375

230,402

-20,027

-8.7

23

Result from disposal of financial investments

5,269

28,555

-23,286

-81.5

 

Income from participations

76,241

88,796

-12,555

-14.1

24

Result from real estate

20,891

20,566

325

1.6

 

Other ordinary income

129,252

209,678

-80,426

-38.4

 

Other ordinary expenses

-42,286

-10,635

-31,651

297.6

 

Other result from ordinary activities

189,367

336,960

-147,593

-43.8

 

Operating income

3,078,468

3,309,863

-231,395

-7.0

 

Personnel expenses

-1,390,544

-1,395,392

4,848

-0.3

26

General and administrative expenses

-606,410

-618,087

11,677

-1.9

27

Operating expenses

-1,996,954

-2,013,479

16,525

-0.8

 

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

-258,648

-188,433

-70,215

37.3

6, 8, 9

Changes to provisions and other value adjustments, and losses

-123,815

478

-124,293

n.a

15

Operating result

699,051

1,108,429

-409,378

-36.9

 

Extraordinary income

82,439

119,373

-36,934

-30.9

28

Extraordinary expenses

-8,573

-3,628

-4,945

136.3

28

Changes in reserves for general banking risks

-120,000

-80,000

-40,000

50.0

15

Taxes

-155,979

-233,423

77,444

-33.2

29

Group profit (including minority interests)

496,938

910,751

-413,813

-45.4

 

Minority interests in group profit

-43,882

-6,317

-37,565

594.7

 

Group profit

540,820

917,068

-376,248

-41.0