Information on the balance sheet

1. Securities financing transactions (assets and liabilities)

in 1,000 CHF

Current year

Previous year

Book value of receivables from cash collateral delivered in connection with securities borrowing and reverse repurchase transactions 1

4,925

51,372

Book value of obligations from cash collateral received in connection with securities lending and repurchase transactions 1

2,925,133

1,758,179

Book value of securities lent in connection with securities lending or delivered as collateral in connection with securities borrowing, as well as securities in own portfolio transferred in connection with repurchase agreements

2,944,113

1,865,788

with unrestricted right to resell or pledge

2,944,113

1,865,788

Fair value of securities received and serving as collateral in connection with securities lending or securities borrowed in connection with securities borrowing, as well as securities received in connection with reverse repurchase agreements with an unrestricted right to resell or repledge

74,493

185,189

of which, repledged securities

 

of which, resold securities

69,530

133,799

1 Before netting agreements

2. Collateral for loans/receivables and off-balance-sheet transactions, as well as impaired loans/receivables

in 1,000 CHF

Mortgage cover

Other cover

Without cover

Total

Loans (before netting with value adjustments)

 

 

 

 

Amounts due to customers

450,006

151,360

3,025,039

3,626,405

Mortgage loans

10,719,248

2,805

10,722,053

Residential property

9,128,092

1,978

9,130,071

Office and business premises

304,701

13

304,714

Trade and industry

748,240

748,240

Other

538,215

814

539,029

Total loans (before netting with value adjustments)

 

 

 

 

Current year

11,169,254

151,360

3,027,844

14,348,459

Previous year

10,267,029

106,348

1,951,574

12,324,951

Total loans (after netting with value adjustments)

 

 

 

 

Current year

11,169,254

151,360

2,888,962

14,209,576

Previous year

10,267,029

106,348

1,938,993

12,312,370

Off-balance-sheet transactions

 

 

 

 

Contingent liabilities

1,445

3,224

3,020,236

3,024,904

Irrevocable commitments

1,054,885

17,300

1,392,698

2,464,883

Obligations to pay up shares and make further contributions

15,345

15,345

Total off-balance-sheet transactions

 

 

 

 

Current year

1,056,330

20,524

4,428,279

5,505,133

Previous year

964,272

52,120

4,417,594

5,433,985

in 1,000 CHF

Gross amount borrowed

Estimated proceeds from realisation of collateral

Net amount borrowed

Individual provisions

Impaired loans

 

 

 

 

Current year

314,180

15,455

298,725

138,883

Previous year

24,460

11,716

12,743

12,581

The difference between the net amount borrowed and the individual value adjustments is attributable to the fact that prudent estimates have been made of the amounts Raiffeisen expects to receive based on the creditworthiness of individual borrowers.

Individual value adjustments for default risks increased by CHF 126.3 million to CHF 138.9 million in 2018, CHF 111 million of which was due to a more conservative valuation of positions held by the KMU Capital Group. The increase in impaired loans is also attributable to this fact. If the value of part of the claim of Raiffeisen Switzerland against the KMU Capital Group has been adjusted because of the more conservative valuation of positions held by the KMU Capital Group, the whole item is considered to be impaired. Mainly for this reason, the gross debt amount of the impaired loans rose by CHF 289.7 million, although the increase based on value adjustments amounted to CHF 126.3 million.

3. Trading portfolio assets

in 1,000 CHF

Current year

Previous year

Assets

 

 

Debt securities, money market securities/transactions

422,842

621,728

stock exchange listed 1

422,842

621,728

Equity securities

42,459

237,586

Precious metals

541,983

443,095

Other trading portfolio assets

20,236

23,461

Total assets

1,027,521

1,325,870

of which determined using a valuation model

of which, securities eligible for repo transactions in accordance with liquidity requirements

287,915

432,247

in 1,000 CHF

Current year

Previous year

Liabilities

 

 

Debt securities, money market securities/transactions 2

69,530

131,456

stock exchange listed 1

69,530

131,456

Equity securities 2

1,209

Precious metals 2

Other trading portfolio liabilities 2

1,133

Total liabilities

69,530

133,799

of which, determined using a valuation model

1 Stock exchange listed = traded on a recognised stock exchange

2 For short positions (booked using the trade date accounting principle)

4. Derivative financial instruments (assets and liabilities)

4.1 Derivative financial instruments by contract type

 

Trading instruments

Hedging instruments

in 1,000 CHF

Positive contract replacement value

Negative contract replacement value

Contract volume

Positive contract replacement value

Negative contract replacement value

Contract volume

Interest rate instruments

 

 

 

 

 

 

Forward contracts incl. FRAs

667

1,799

3,500,000

Swaps

339,741

346,084

35,712,553

473,044

644,734

34,729,660

Futures contracts

2,759,728

Options (OTC)

22

22

2,576

Options (exchange traded)

Total interest rate instruments

340,430

347,905

41,974,857

473,044

644,734

34,729,660

Foreign currencies

 

 

 

 

 

 

Forward contracts

166,741

180,888

24,758,365

18,865

53,371

3,392,731

Comb. interest rate/currency swaps

152

10,063

Futures contracts

Options (OTC)

17,548

18,321

1,370,012

Options (exchange traded)

Total foreign currencies

184,441

199,209

26,138,440

18,865

53,371

3,392,731

Precious metals

 

 

 

 

 

 

Forward contracts

30,598

24,828

1,685,412

Swaps

Futures contracts

31,178

Options (OTC)

13,197

15,594

1,354,820

Options (exchange traded)

Total precious metals

43,795

40,422

3,071,410

Equities and indices

 

 

 

 

 

 

Forward contracts

Swaps

Futures contracts

41,767

Options (OTC)

222,199

222,199

3,089,638

5

92,581

Options (exchange traded)

Total equities and indices

222,199

222,199

3,131,405

5

92,581

Credit derivatives

 

 

 

 

 

 

Credit default swaps

10,105

10,105

525,761

Total return swaps

First-to-default swaps

Other credit derivatives

Total credit derivatives

10,105

10,105

525,761

Other

 

 

 

 

 

 

Forward contracts

Swaps

Futures contracts

Options (OTC)

17,889

17,889

455,123

Options (exchange traded)

Total other

17,889

17,889

455,123

Total

 

 

 

 

 

 

Current year

818,859

837,728

75,296,997

491,908

698,110

38,214,972

of which determined using a valuation model

818,859

837,728

491,908

698,110

Previous year

927,094

945,314

109,200,794

705,122

665,480

39,105,655

of which determined using a valuation model

926,537

945,144

705,122

665,480

4.2 Derivative financial instruments by counterparty and time remaining to maturity

in 1,000 CHF

Positive contract replacement value

Negative contract replacement value

Contract volume up to 1 year

Contract volume 1 to 5 years

Contract volume over 5 years

Contract volume total

Central clearing houses

190,215

152,625

7,190,900

11,195,100

14,245,300

32,631,300

Raiffeisen banks 1

131

231

24,257

629

24,886

Banks and securities dealers

882,122

1,313,468

36,529,102

24,598,289

10,917,712

72,045,103

Stock exchanges

2,832,673

2,832,673

Other customers

238,299

69,514

4,436,752

1,061,113

480,140

5,978,006

Total

 

 

 

 

 

 

Current year

1,310,767

1,535,839

51,013,685

36,855,132

25,643,152

113,511,968

Previous year

1,632,217

1,610,794

89,071,018

37,106,002

22,129,429

148,306,449

1 Primarily for clients’ needs

No netting contracts are used to report the replacement values.

Quality of counterparties

Banks/securities dealers: Derivative transactions were conducted primarily with counterparties with a very good credit rating; 84.8% of the positive replacement values are open with counterparties with an upper-medium grade or better rating (Moody’s) or with a comparable rating.

Clients: In transactions with clients, the required margins were secured by assets or free credit lines.

5. Financial investments

5.1 Breakdown of financial investments

in 1,000 CHF

Book value current year

Book value previous year

Fair value current year

Fair value previous year

Financial assets

 

 

 

 

Debt instruments

6,473,740

6,237,724

6,653,739

6,450,762

of which intended to be held until maturity

6,473,740

6,237,724

6,653,739

6,450,762

of which, not intended to be held to maturity (available for sale)

Equities

45,769

70,867

46,424

72,976

of which qualified participations 1

Precious metals

Real estate

41,363

41,363

Total financial assets

6,560,872

6,308,591

6,741,525

6,523,739

of which securities for repo transactions in line with liquidity requirements

6,443,576

6,187,537

1 At least 10% of the capital or the votes

5.2 Breakdown of counterparties by rating

in 1,000 CHF

Book value Very safe investment

Book value Safe investment

Book value Average to good investment

Book value Speculative to highly speculative investment

Book value Highest-risk investment/default

Book value Unrated investment

Debt securities

6,443,576

30,164

Ratings are assigned based on Moody’s rating classes. The Raiffeisen Group uses the ratings of all three major international rating agencies.

6. Participations

in 1,000 CHF

Purchase price

Accumulated value ad- justments

Book value at end of previous year

Current-year transfers/ reclassi- fications

Current-year invest- ment

Current-year disinvest- ment

Current-year value ad- justments

Current-year Reversals

Book value at end of current year

Market value at end of current year

Participations Group companies

644,613

-1,238

643,374

16,135

-622,506

-22,361

14,642

– with market value

– without market value

644,613

-1,238

643,374

16,135

-622,506

-22,361

14,642

Other participations

508,299

-95,735

412,564

55,610

-197

-58,811

409,167

225,198

– with market value

318,849

-85,004

233,845

45,387

-54,101

225,131

225,198

– without market value

189,450

-10,731

178,719

10,223

-197

-4,710

184,035

Total participations

1,152,912

-96,974

1,055,938

71,745

-622,702

-81,172

423,809

225,198

The 100% stake in Notenstein La Roche Private Bank Ltd was sold to Vontobel in the 2018 financial year, which led to a disposal of CHF 622.5 million.

In the course of the sale of Notenstein La Roche Private Bank Ltd to Vontobel, Raiffeisen Switzerland acquired an equity stake in Leonteq Ltd held by Notenstein, and Raiffeisen Switzerland participated in the capital increase of Leonteq Ltd. In total the investments amounted to CHF 45.4 million. At the end of the year, Raiffeisen Switzerland made a value adjustment of CHF 54.1 million to the participation in Leonteq Ltd as a whole in response to market developments.

In 2018, Raiffeisen Switzerland Cooperative initially terminated the shareholders' binding agreement for Investnet Holding AG (now KMU Capital Holding AG) for good cause and subsequently, where necessary, rescinded the agreements in the context of "Investnet". As a result of the rescission, Raiffeisen Switzerland is claiming all the shares in KMU Capital Holding AG, which is controlled totally by KMU Capital AG. However, Investnet AG does not belong to the Raiffeisen Group. The instituted civil proceedings are currently pending. In connection with the rescission of agreements, Raiffeisen Switzerland has also written off liabilities of CHF 30 million and contingent liabilities amounting to CHF 30 million. Raiffeisen Switzerland assumes that there will be no more payments.

Should – contrary to the expectations of Raiffeisen Switzerland – neither the rescission of the agreements nor the validity of the termination be confirmed, minority shareholders might, if need be, be entitled to tender shares in KMU Capital Holding AG to Raiffeisen Switzerland Cooperative from 1 July 2020 according to the shareholders' binding agreement of 2015 based on a contractually agreed valuation method (put option). Since the valuation method would be based on the prevailing underlying values and value appraisals, it is not possible to carry out a corresponding valuation at this time. The above-mentioned written-off liabilities and contingent liabilities could become relevant then.

7. Tangible fixed assets

7.1 Tangible fixed assets

in 1,000 CHF

Purchase price

Cumulative depreci- ation/amorti- sation

Book value at end of previous year

Current-year transfers/ reclassi- fications

Current-year invest- ment

Current-year disinvest- ment

Current-year depreci- ation/amortisation

Current-year Reversals

Book value at end of current year

Bank buildings

233,269

-88,067

145,202

-137

20,855

-4,368

161,552

Other real estate

14,077

-5,032

9,045

-1,355

7,690

Proprietary or separately acquired software

143,085

-134,303

8,782

2

51,051

-26,225

-5,876

27,734

Other tangible fixed assets

198,700

-166,408

32,292

135

17,597

-170

-13,964

35,890

Total tangible assets

589,131

-393,810

195,321

89,503

-26,395

-25,563

232,866

7.2 Operating leases

in 1,000 CHF

Current year

Previous year

Non-recognised lease commitments

 

 

Due within 12 months

1,905

2,378

Due within 1 to 5 years

2,657

3,150

Due after 5 years

Total non-recognised lease commitments

4,562

5,528

of which obligations that can be terminated within one year

4,562

5,528

8. Intangible assets

in 1,000 CHF

Purchase price

Cumulative depreci- ation/amorti- sation

Book value at end of previous year

Current-year invest- ment

Current-year disinvest- ment

Current-year depreci- ation/amortisation

Book value at end of current year

Other intangible assets

12,500

-5,847

6,653

-2,419

4,234

Total intangible assets

12,500

-5,847

6,653

-2,419

4,234

9. Other assets and liabilities

in 1,000 CHF

Current year

Previous year

Other assets

 

 

Equalisation account

121,418

15,735

Settlement accounts for indirect taxes

586,319

643,414

Other settlement accounts

43,950

126,310

Commodities

2,809

2,938

Miscellaneous other assets

111

0

Total other assets

754,607

788,398

Other liabilities

 

 

Due, unredeemed coupons and debt instruments

25

25

Levies, indirect taxes

28,293

27,517

Solidarity fund

335,193

332,389

of which open guarantees to Raiffeisen banks

216

259

Other settlement accounts

72,936

98,203

Miscellaneous other liabilities

228

265

Total other liabilities

436,675

458,400

10. Disclosure of assets pledged or assigned to secure own commitments and of assets under reservation of ownership1

in 1,000 CHF

Current-year book values

Current year Effective commitments

Previous-year book values

Previous year Effective commitments

Pledged/assigned assets

 

 

 

 

Amounts due from Raiffeisen banks

Amounts due from other banks

654,657

654,657

376,039

376,039

Amounts due from clients

570

570

 

 

Mortgage loans

3,188,344

2,030,676

2,977,236

1,974,335

Financial investments

1,249,121

486,213

1,233,075

477,515

Total pledged assets

5,092,692

3,172,116

4,586,350

2,827,889

Total assets under reservation of ownership

1 Without securities financing transactions (see separate presentation of the securities financing transactions in note 1)

11. Pension schemes

All employees of Raiffeisen Switzerland are covered by the Raiffeisen Pension Fund Cooperative. The statutory retirement age is set at 65. Members have the option of taking early retirement from the age of 58 with a corresponding reduction in benefits. The Raiffeisen Pension Fund Cooperative covers at least the mandatory benefits under Swiss occupational pension law. The Raiffeisen Employer Foundation manages the individual employer contribution reserves of the Raiffeisen banks and the companies of the Raiffeisen Group.

11.1 Liabilities relating to own pension schemes

in 1,000 CHF

Current year

Previous year

Amounts due in respect of customer deposits

18,830

51,242

Negative replacement values of derivative financial instruments

2,421

4,345

Bonds

40,000

40,000

Accrued expenses and deferred income

411

543

Total liabilities to own social insurance institutions

61,661

96,130

11.2 Employer contribution reserves in the Raiffeisen Employer Foundation

in 1,000 CHF

Current year

Previous year

As at 1 January

11,563

8,274

+ Deposits 1

5,000

– Withdrawals 1

3,382

1,727

+ Interest paid 2

18

16

As at 31 December

8,199

11,563

1 Contributions and payments are included in personnel expenditure.

2 Interest paid on the employer contribution reserves is recorded as interest income.

The employer contribution reserves correspond to the nominal value as calculated by the pension plan. They are not reported.

11.3 Economic benefit/obligation and retirement benefit expenditure

According to the latest audited annual report (in accordance with Swiss GAAP FER 26) of the Raiffeisen Pension Fund Cooperative, the coverage ratio is:

in 1,000 CHF

As at 31.12.2018 in %

As at 31.12.2017 in %

Raiffeisen Pension Fund Cooperative

108.4

116.1

As at 31 December 2018, the fluctuation reserve of Raiffeisen Pension Fund Cooperative's pension scheme fell below the level of 115% set out in the regulations. The Assembly of Delegates of Raiffeisen Pension Fund Cooperative decides how any uncommitted funds will be used. In general, the "principles for the use of uncommitted funds (profit participation)" which it issues are applied. The Board of Directors of Raiffeisen Switzerland assumes that even if uncommitted funds are available, no economic benefits will accrue to the employer until further notice; uncommitted funds are to be used to benefit pension plan members.

The affiliated employers have no economic benefits or economic obligations for which allowance would have to be made in the balance sheet and income statement.

Pension expenditure is explained under "Contribution to staff pension plans" in note 26 "Personnel expenses".

12. Issued structured products

 

Book value

 

 

Valued as a whole

Valued separately

 

in 1,000 CHF

Booked in trading portfolio

Booked in other financial instruments at fair value

Value of the host instrument

Value of the derivative

Total

Underlying risk of the embedded derivative

 

 

 

 

 

Interest rate instruments

1,034

-18

1,016

With own debenture component (oDC)

1,034

-18

1,016

Without oDC

Equity securities

1,452,847

-154,334

1,298,513

With own debenture component (oDC)

1,452,847

-155,136

1,297,711

Without oDC

802

802

Foreign currencies

1

-1

0

With own debenture component (oDC)

1

-1

0

Without oDC

Commodities/precious metals

101,489

-8,957

92,532

With own debenture component (oDC)

101,489

-8,957

92,532

Without oDC

Credit derivatives

143,849

-1,258

142,591

With own debenture component (oDC)

143,849

-1,258

142,591

Without oDC

Total

1,699,221

-164,568

1,534,652

In the case of issued structured products that include a debt security, the derivative is split from the underlying contract and valued and presented separately. Underlying instruments are recognised at their nominal value in "Bonds and central mortgage institution loans". The derivative components of the products are recognised at market value in "Positive replacement values of derivative financial instruments" and "Negative replacement values of derivative financial instruments".

13. Bond issues and central mortgage institution loans

in 1,000 CHF

Year of issue

Interest rate

 

Maturity

Early termination possibility

Bond principal in

 

Non-subordinated own bonds

2010

2.000

 

21.09.2023

245,805

 

 

2011

2.125

 

04.02.2019

250,000

 

 

2011

2.625

 

04.02.2026

145,095

 

 

2014

1.625

 

07.02.2022

100,000

 

 

2016

0.000

 

17.09.2020

50,000

 

 

2016

0.300

 

22.04.2025

364,850

 

 

2016

0.750

 

22.04.2031

73,500

 

 

2018

0.350

 

16.02.2024

378,550

 

 

2018

0.000

1

19.06.2020

175,000

 

 

2018

0.000

1

11.09.2020

60,000

 

Subordinated own bonds without PONV clause 2

2011

3.875

 

21.12.2021

535,000

 

Subordinated own bonds with PONV clause 2

2015

3.000

 

Perpetual

02.10.2020

574,210

3

 

2018

2.000

 

Perpetual

02.05.2023

399,220

3

 

 

 

 

 

 

 

 

Underlying instruments from issued structured products 4

div.

-0.179

5

2019

 

1,138,063

 

 

 

0.603

5

2020

 

128,291

 

 

 

0.745

5

2021

 

80,549

 

 

 

-0.511

5

2022

 

148,077

 

 

 

-0.075

5

2023

 

28,967

 

 

 

0.131

5

after 2023

 

175,275

 

 

 

 

 

 

 

 

 

Loans from Pfandbriefbank schweizerischer Hypothekarinstitute AG

div.

1.400

5

div.

 

1,971,530

 

Total outstanding bond issues and central mortgage institution loans

 

 

 

 

 

7,021,981

 

1 Variable coupon, basis CHF Libor three months and spread.

2 PONV clause = point of non-viability/time of imminent insolvency

3 Subordinated perpetual Additional Tier 1 bond with contingent write-down. With FINMA’s consent, the bond can be terminated on a unilateral basis by Raiffeisen Switzerland (no earlier than five years following issue).

4 In the case of issued structured products that include a debt security, the derivative is split from the underlying contract and valued and presented separately. Underlying instruments are recognised at their nominal value in “Bond issues and central mortgage institution loans”. The derivative components of the products are recognised at market value in “Positive replacement values of derivative financial instruments” and “Negative replacement values of derivative financial instruments”.

5 Average weighted interest rate (volume-weighted).

14. Value adjustments, provisions and reserves for general banking risks

in 1,000 CHF

End of previous year

Appropriate application

Reclassifications

Past due interest, recoveries

New provisions against income statement

Dissolution of provisions against income statement

End of current year

Provisions

 

 

 

 

 

 

 

Provisions for default risks

9,600

-143

47

89

1,441

-4,356

6,678

Provisions for other business risks

130

-104

 

 

75,900

 

75,926

Provisions for restructuring

500

-9,138

 

 

25,001

 

16,363

Other provisions 1

6,455

-2,044

 

 

25,000

-5

29,406

Total provisions

16,685

-11,429

47

89

127,342

-4,361

128,373

Reserves for general banking risks

259,450

-250,153

9,297

of which taxed

188,450

-179,153

9,297

Value adjustments for default and country risks

 

 

 

 

 

 

 

Value adjustments for default risks in respect of impaired loans/receivables

12,581

-170

-47

106

129,704

-3,291

138,883

Value adjustments for latent risks

Total value adjustments for default and country risks

12,581

-170

-47

106

129,704

-3,291

138,883

1 Other provisions include provisions for legal expenses.

Reorganisation provisions went up CHF 15.8 million, chiefly due to the sale of Notenstein La Roche Private Bank Ltd. CHF 21.2 million of new provisions were formed in this connection and were charged to the income statement. In total restructuring provisions of CHF 5.6 million were recognised under personnel expenses. In the case of other provisions, in particular the uncertainties in the legal disputes in the context of "Investnet" (see also explanations in Note 6) resulted in an increase of CHF 25 million affecting net income.

The agreed repurchase of ARIZON Sourcing Ltd led to the formation of provisions affecting net income for other business risks of CHF 69 million.

15. Cooperative capital

 

Current year

Previous year

in 1,000 CHF

Total par value

Number of shares in 1,000

Interest-bearing capital

Total par value

Number of shares in 1,000

Interest-bearing capital

Cooperative capital

1,700,000

1,700

1,700,000

1,700,000

1,700

1,700,000

of which, paid up

1,700,000

1,700

1,700,000

1,700,000

1,700

1,700,000

The cooperative capital is owned in full by the 246 Raiffeisen banks within Raiffeisen Switzerland (previous year: 255 Raiffeisen banks). As in the previous year, no Raiffeisen bank holds share certificates granting more than 5% of the voting rights.

Under the Articles of Association of Raiffeisen Switzerland, the Raiffeisen banks must acquire a share certificate for CHF 1,000 for each CHF 100,000 of their total assets. As at 31 December 2018, this corresponded to a call-in obligation towards Raiffeisen Switzerland of CHF 2’025,1 million, of which CHF 893,8 million have been paid in. The Raiffeisen banks took over CHF 806.2 million in share certificates without applying this amount toward the call-in obligation.

16. Related parties

 

Amounts due from

Amounts due to

in 1,000 CHF

Current year

Previous year

Current year

Previous year

Group companies

971,880

718,331

266,859

1,268,491

Transactions with members of governing bodies

15,037

31,070

1,733

5,484

Other related parties

424,224

324,268

337,067

284,981

Total amounts due from/to related parties

1,411,141

1,073,670

605,660

1,558,955

Material off-balance-sheet transactions with related parties

Contingent liabilities to related parties amounted to CHF 2.4 billion (previous year: CHF 2.6 billion). Irrevocable commitments to related parties amounted to CHF 245.1 million (previous year: CHF 336.7 million).

Transactions with related parties

On- and off-balance-sheet transactions with related parties are allowed at arm's length terms, with the following exceptions:

  • The Executive Board and the Head of Internal Auditing of Raiffeisen Switzerland enjoy industry-standard preferential terms, as do other personnel.
  • Amounts due from Group companies of CHF 971.8 million include unsecured loans of CHF 163.6 million (last maturity on 31 December 2025) with an average interest rate of 1.6%.
  • Liabilities to other related parties include CHF current account balances in the amount of CHF 4.3 million for which the credit balance exceeding the allowance is subject to a negative interest rate of 0.4%. Furthermore, a credit balance in the amount of CHF 7.8 million is included, which bears 2.75% interest.
  • In Q4 2018, a Group company was transferred from Raiffeisen Business Owner Centre (RUZ) Ltd to Raiffeisen Switzerland at a book value of CHF 10.6 million. At the end of the year, this Group company was written off at an intrinsic value of CHF 0.6 million.

Special provisions apply to the processing and monitoring of loans to executive bodies to ensure that staff remains independent at all times. 

17. Maturity structure of financial instruments

in 1,000 CHF

On demand

Redeemable by notice

Due within 3 months

Due within 3 to 12 months

Due within 1 to 5 years

Due after 5 years

Total

Assets/financial instruments

 

 

 

 

 

 

 

Liquid assets

17,993,258

17,993,258

Amounts due from Raiffeisen banks

3,023,050

3,023,050

Amounts due from other banks

760,708

1,005,024

50,000

1,815,732

Amounts due from securities financing transactions

4,920

4,920

Amounts due from clients

5,139

491,891

1,913,268

339,718

602,764

137,547

3,490,328

Mortgage loans

6,826

106,518

636,429

1,234,451

5,402,043

3,332,981

10,719,248

Trading portfolio assets

1,027,521

1,027,521

Positive replacement values of derivative financial instruments

1,310,767

1,310,767

Financial investements 1

45,769

110,044

305,075

2,365,846

3,734,137

6,560,872

Total

 

 

 

 

 

 

 

Current year

24,173,039

598,409

3,669,685

1,929,245

8,370,654

7,204,665

45,945,696

Previous year

24,742,739

224,899

9,570,989

1,691,098

8,098,269

6,992,441

51,320,435

Debt capital/financial instruments

 

 

 

 

 

 

 

Amounts due to Raiffeisen banks

15,366,151

15,366,151

Amounts due to other banks

1,073,001

3,365,262

1,744,664

228,000

6,410,927

Liabilities from securities financing transactions

2,919,232

5,904

2,925,136

Amounts due in respect of customer deposits

3,973,743

4,501,464

1,244,865

532,387

705,386

465,833

11,423,677

Trading portfolio liabilities

69,530

69,530

Negative replacement values of derivative financial instruments

1,535,839

1,535,839

Cash Bonds

1,548

6,446

14,984

7,585

30,563

Bond issues and central mortgage institution loans

867,891

636,172

2,886,568

2,631,350

7,021,981

Total

 

 

 

 

 

 

 

Current year

22,018,264

4,501,464

8,398,798

2,925,572

3,834,937

3,104,767

44,783,803

Previous year

21,451,499

4,453,004

13,923,396

3,492,902

4,386,182

2,943,247

50,650,230

1 The financial assets include CHF 41’362’658 of real estate (prior year: CHF 0,00).

18. Total assets by credit rating of country groups

 

Net foreign exposure

in 1,000 CHF

Current year

Current year in %

Previous year

Previous year in %

Rating class

 

 

 

 

Very safe investment

2,774,592

98.2

6,678,083

99.0

Safe investment

11,607

0.4

29,668

0.4

Average to good investment

30,287

1.1

30,485

0.5

Speculative to highly speculative investment

4,629

0.2

5,553

0.1

Highest-risk investment/default

Unrated investment

3,441

0.1

2,843

0.0

Total assets

2,824,555

100.0

6,746,631

100.0

Ratings are assigned based on Moody’s rating classes. The Raiffeisen Group uses the ratings of all three major international rating agencies.

19. Balance sheet by currency

in 1,000 CHF

CHF

EUR

USD

Other

Total

Assets

 

 

 

 

 

Liquid assets

17,017,032

848,735

16,382

111,109

17,993,258

Amounts due from Raiffeisen banks

3,020,787

119

342

1,803

3,023,050

Amounts due from other banks

963,067

493,387

164,224

195,054

1,815,732

Amounts due from securities financing transactions

4,920

4,920

Amounts due from clients

2,802,267

387,311

278,988

21,763

3,490,328

Mortgage loans

10,719,248

10,719,248

Trading portfolio assets

480,405

116

5,017

541,983

1,027,521

Positive replacement values of derivative financial instruments

1,310,767

1,310,767

Financial investments

6,541,804

9,015

10,045

7

6,560,872

Accrued income and prepaid expenses

222,850

2,184

2,536

327

227,896

Participations

423,802

7

423,809

Tangible fixed assets

232,866

232,866

Intangible assets

4,234

4,234

Other assets

754,607

754,607

Total assets reflected in the balance sheet

44,493,736

1,740,867

482,453

872,052

47,589,108

Delivery claims under spot exchange, forward exchange and currency option contracts

11,192,778

5,139,614

10,596,314

3,033,951

29,962,658

Total assets

55,686,515

6,880,481

11,078,767

3,906,003

77,551,766

Liabilities

 

 

 

 

 

Amounts due to Raiffeisen banks

12,565,303

2,141,145

329,570

330,133

15,366,151

Amounts due to other banks

4,694,041

191,924

1,105,452

419,510

6,410,927

Liabilities from securities financing transactions

1,905,000

316,518

662,232

41,385

2,925,136

Amounts due in respect of customer deposits

10,640,224

201,067

543,641

38,744

11,423,677

Trading portfolio liabilities

69,530

69,530

Negative replacement values of derivative financial instruments

1,535,839

1,535,839

Cash Bonds

30,563

30,563

Bond issues and central mortgage institution loans

6,855,005

58,790

99,108

9,077

7,021,981

Accrued expenses and deferred income

304,001

988

5,678

269

310,936

Other liabilities

436,675

436,675

Provisions

128,373

128,373

Reserves for general banking risks

9,297

9,297

Cooperative capital

1,700,000

1,700,000

Statutory retained earnings reserve

177,523

177,523

Profit

42,500

42,500

Total liabilities reflected in the balance sheet

41,093,875

2,910,432

2,745,681

839,120

47,589,108

Delivery obligations under spot exchange, forward exchange and currency option contracts

14,667,774

4,047,111

8,356,596

2,931,983

30,003,463

Total liabilities

55,761,648

6,957,544

11,102,277

3,771,102

77,592,571

Net position per currency

-75,134

-77,063

-23,510

134,901

-40,806

 

31.12.2018

31.12.2017

Foreign currency conversion rates

 

 

EUR

1.126

1.171

USD

0.984

0.975