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

 

 

Custody account business

69,391

80,492

Brokerage

76,678

89,668

Fund business and asset management business

122,876

146,298

Other securities trading and investment activities

104,331

106,031

Commission income from lending activities

21,377

20,260

Commission income from other services

 

 

Payments

159,096

157,089

Account maintenance

31,860

33,737

Other services

33,283

43,780

Total commission income

618,892

677,355

Commission expense

 

 

Securities business

-83,869

-96,955

Payments

-67,876

-70,437

Other commission expense

-16,368

-15,624

Total commission expense

-168,113

-183,016

Total results from commission business and services

450,779

494,339

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

78,138

79,522

Raiffeisen banks

127,374

129,457

Group companies

4,863

21,423

Total result from trading activities and the fair value option

210,375

230,402

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

135,553

131,671

Precious metals and foreign notes and coins trading

54,282

73,431

Equities trading

6,899

3,815

Fixed income trading

13,641

23,485

Other

-2,000

Total result from trading activities and the fair value option

210,375

230,402

of which, from fair value option

12

421

of which, from fair value option on assets

13,380

of which, from fair value option on liabilities

-13,368

421

24. Income from participating interests

in 1,000 CHF

Current year

Previous year

Participations valued according to the equity method

65,708

69,543

Other non-consolidated participations

10,533

19,253

Total income from participating interests

76,241

88,796

25. Negative interest

in 1,000 CHF

Current year 1

Previous year 1

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

57,706

56,000

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

74,987

61,821

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

24,644

24,000

Salaries and benefits for staff

1,101,899

1,098,718

AHV, IV, ALV and other statutory contributions

101,792

98,183

Contributions to staff pension plans

121,685

123,662

Other personnel expenses

40,524

50,829

Total personnel expenses

1,390,544

1,395,392

27. General and administrative expenses

in 1,000 CHF

Current year

Previous year

Office space expenses

90,126

92,698

Expenses for information and communications technology

94,892

120,187

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

27,645

29,108

Fees of audit firms

13,263

13,571

of which, for financial and regulatory audits

12,684

13,037

of which, for other services

579

534

Other operating expenses

380,484

362,523

Total general and administrative expenses

606,410

618,087

28. Extraordinary income and expenses

Current year

The extraordinary income of CHF 82.4 million mainly consists of CHF 76.1 million in income from the sale of tangible fixed assets and participations (of which CHF 68 million came from the sale of Notenstein La Roche Private Bank Ltd).

The extraordinary expenses of CHF 8.6 million include losses from the sale of tangible assets of CHF 7 million.

Previous 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.

29. Current and deferred taxes

in 1,000 CHF

Current year

Previous year

Creation of provisions for deferred taxes

55,934

Release of provisions for deferred taxes

-14,135

Expenses for current taxes

170,114

177,489

Total tax expenses

155,979

233,423

Average tax rate weighted on the basis of the operating result

22.3%

21.1%

It was possible to partly set off the previous year's tax-relevant net profit against tax loss carryforwards that had not yet been used. The influence of this set-off on the tax expenditure of the Raiffeisen Group is insignificant.