Consolidated income statement

1st half 2019

in 1,000 CHF

1.1.-30.6.2019

1.1.-30.6.2018

Change

Change in %

Interest and discount income

1,418,737

1,456,665

-37,928

-2.6

Interest and dividend income from financial assets

21,550

24,626

-3,076

-12.5

Interest expenditure

-307,359

-332,797

25,438

-7.6

Gross result from interest operations

1,132,928

1,148,494

-15,566

-1.4

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

7,061

-9,999

17,060

-170.6

Net result from interest operations

1,139,989

1,138,495

1,494

0.1

Commission income from securities trading and investment activities

163,390

220,427

-57,037

-25.9

Commission income from lending activities

11,241

10,173

1,068

10.5

Commission income from other services

112,809

113,181

-372

-0.3

Commission expense

-79,247

-87,859

8,612

-9.8

Result from commission business and services

208,193

255,922

-47,729

-18.6

Result from trading activities and the fair value option

108,807

118,392

-9,585

-8.1

Result from disposal of financial investments

446

4,324

-3,878

-89.7

Income from participations

34,126

53,361

-19,235

-36.0

Result from real estate

11,046

10,460

586

5.6

Other ordinary income

17,167

57,828

-40,661

-70.3

Other ordinary expenses

-1,734

-2,389

655

-27.4

Other result from ordinary activities

61,051

123,584

-62,533

-50.6

Operating income

1,518,040

1,636,393

-118,353

-7.2

Personnel expenses

-674,816

-707,147

32,331

-4.6

General and administrative expenses

-258,796

-292,849

34,053

-11.6

Operating expenses

-933,612

-999,996

66,384

-6.6

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

-130,689

-112,204

-18,485

16.5

Changes to provisions and other value adjustments, and losses

-7,380

-7,225

-155

2.1

Operating result

446,359

516,968

-70,609

-13.7

Extraordinary income

12,832

7,349

5,483

74.6

Extraordinary expenses

-4,389

-3,025

-1,364

45.1

Taxes

-100,365

-107,059

6,694

-6.3

Group profit (including minority interests)

354,437

414,233

-59,796

-14.4

Minority interests in group profit

-484

-2,061

1,577

-76.5

Group profit

354,921

416,294

-61,373

-14.7