Consolidated income statement

								Change
in 1,000 CHF		Note		2021		2022		in 1,000 CHF		in %
Interest and discount income		26		2,632,215		3,017,173		384,958		14.6
Interest and dividend income from financial investments				25,306		39,873		14,567		57.6
Interest expense		26		-255,621		-487,668		-232,047		90.8
Gross result from interest operations				2,401,900		2,569,378		167,478		7.0
Changes in value adjustments for default risks and losses from interest operations		15		12,141		-19,565		-31,706		-261.1
Net result from interest operations				2,414,041		2,549,813		135,772		5.6
Commission income from securities trading and investment activities				406,112		394,947		-11,165		-2.7
Commission income from lending activities				28,706		30,617		1,911		6.7
Commission income from other services				227,845		320,531		92,686		40.7
Commission expense				-126,589		-154,743		-28,154		22.2
Result from commission business and services		23		536,074		591,352		55,278		10.3
Result from trading activities and the fair value option		24		244,630		254,314		9,684		4.0
Result from disposal of financial investments				69,933		685		-69,248		-99.0
Income from participations		25		73,314		92,980		19,666		26.8
Result from real estate				20,804		23,121		2,317		11.1
Other ordinary income				26,844		26,629		-215		-0.8
Other ordinary expenses				-2,206		-9,835		-7,629		345.8
Other result from ordinary activities				188,689		133,580		-55,109		-29.2
Operating income				3,383,434		3,529,059		145,625		4.3
Personnel expenses		27		-1,391,710		-1,429,006		-37,296		2.7
General and administrative expenses		28		-502,966		-543,027		-40,061		8.0
Operating expenses				-1,894,676		-1,972,033		-77,357		4.1
Value adjustments on participations and depreciation and amortisation of tangible fixed assets and intangible assets		6, 8, 9		-217,376		-188,822		28,554		-13.1
Changes to provisions and other value adjustments, and losses		15		-3,110		-14,076		-10,966		352.6
Operating result				1,268,272		1,354,128		85,856		6.8
Extraordinary income		29		8,589		33,592		25,003		291.1
Extraordinary expenses		29		-895		-9,782		-8,887		993.0
Taxes		30		-182,992		-196,158		-13,166		7.2
Group profit (including minority interests)				1,092,974		1,181,780		88,806		8.1
Minority interests in group profit				24,184		-118		-24,302		-100.5
Group profit				1,068,790		1,181,898		113,108		10.6