Information on the income statement

22. Result from interest operations

in 1,000 CHF

Current year

Previous year

Interest and dividend income

 

 

Interest income from amounts due from Raiffeisen banks

92,744

126,696

Interest income from amounts due from other banks

2,319

-2,170

Interest income from securities financing transactions

1,487

318

Interest income from amounts due from clients

39,880

29,627

Interest income from mortgage loans

143,710

140,640

Interest and dividend income from financial investments

43,735

48,337

Other interest income

23,548

25,012

Total interest and dividend income

347,422

368,460

of which negative interest on the lending business

-57,645

-56,554

Interest expenditure

 

 

Interest expenditure from amounts due to Raiffeisen banks

32,722

23,985

Interest expenditure from amounts due to other banks

5,739

7,544

Interest expenditure from securities financing transactions

631

-2,216

Interest expenditure from amounts due to clients

-15,313

-15,436

Interest expenditure from cash bonds

-487

-1,201

Interest expenditure from bond issues and central mortgage institution loans

-105,812

-117,917

Other interest expenses

-109,537

-137,131

Total interest expenditure

-192,056

-242,372

of which negative interest on the borrowing business

72,563

61,350

Gross result from interest operations

155,366

126,088

23. Result from commission business and services

in 1,000 CHF

Current year

Previous year

Commission income

 

 

Commission income from securities and investment business

 

 

Fund business

15,710

12,524

Custody account business

24,930

24,414

Brokerage

12,214

17,184

Other securities and investment business

24,735

19,568

Commission income from lending business

16,267

13,395

Commission income from other service transactions

 

 

Payments

57,078

52,913

Account maintenance

2,360

2,553

Other service transactions

3,573

4,245

Total commission income

156,865

146,796

Commission expenditure

 

 

Securities business

-43,173

-40,554

Payments

-2,749

-2,821

Other commission expenditure

-441

-911

Total commission expenditure

-46,362

-44,286

Total net income from commission business and service transactions

110,503

102,510

24. Result from trading activities

24.1 Breakdown by business area

in 1,000 CHF

Current year

Previous year

Branches of Raiffeisen Switzerland

7,394

7,763

Equities trading desk

6,025

4,007

Foreign currency trading desk

9,746

10,878

Fixed income trading desk

6,943

11,228

Macro hedge trading desk

345

-564

Banknotes/precious metals trading desk

38,688

40,767

Options trading desk

2,312

-215

Rates trading desk

6,687

6,785

Combined trading operations

-1,127

Total net trading income

78,138

79,522

24.2 Breakdown by underlying risk

in 1,000 CHF

Current year

Previous year

Foreign exchange trading

16,774

17,382

Precious metals and foreign notes and coins trading

41,136

43,280

Equities trading

6,783

3,414

Fixed income trading

13,445

17,445

Other

-2,000

Total net trading income

78,138

79,522

25. Other ordinary income

in 1,000 CHF

Current year

Previous year

IT services for Group companies

65,841

61,384

Other individual services provided for Group companies

207,248

205,680

Contributions from the Raiffeisen banks for collective and strategic services

76,376

78,762

Charges for internal services relating to Group projects

39,402

55,406

Other

12,326

2,280

Total other ordinary income

401,193

403,513

26. Personnel expenses

in 1,000 CHF

Current year

Previous year

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

2,618

2,367

Salaries and bonuses for staff

316,855

308,459

AHV, IV, ALV and other statutory contributions

23,744

23,667

Contributions to staff pension plans

33,912

38,817

Other personnel expenses

6,686

7,801

Total personnel expenses

383,815

381,111

27. General and administrative expenses

in 1,000 CHF

Current year

Previous year

Office space expenses

28,343

30,904

Expenses for information and communications technology

124,552

87,332

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

3,981

3,921

Auditor fees

3,427

3,333

of which, for financial and regulatory audits

3,047

3,091

of which, for other services

380

242

Other operating expenses

133,982

129,164

Total general and administrative expenses

294,285

254,653

28. Extraordinary income and expenses

Current year

Extraordinary income of CHF 46.2 million includes CHF 35.2 million from the sale of Notenstein La Roche Privatbank Ltd and CHF 11 million from the sale of tangible fixed assets.

Hidden reserves existed for the participation in Leonteq Ltd at the end of 2017 because the market value of the stake exceeded the book value by CHF 47.4 million. These hidden reserves were eliminated as at the end of 2018 due to the lower mark-to-market accounting of Leonteq Ltd.

Prior 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.

29. Current taxes

in 1,000 CHF

Current year

Previous year

Expenditure for current income tax

2,500

5,035

Total tax expenditure

2,500

5,035

Average tax rate weighted on the basis of the operating result

-1.0%

13.5%

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