Segment reporting
Business segment reporting 2016
in CHF 1,000 | Client | Client | Corporate | Total |
|---|---|---|---|---|
| Liechtenstein | International |
|
|
Total net interest income1 | 67,609 | 24,936 | 9,827 | 102,372 |
Total net income from commission | 90,176 | 33,878 | –5,265 | 118,789 |
Income from trading activities1 | 20,267 | 6,565 | 17,664 | 44,496 |
Income from financial instruments | 10 | 396 | 7,240 | 7,646 |
Other income | 0 | 1,078 | –1,149 | –71 |
Total operating income | 178,062 | 66,853 | 28,317 | 273,232 |
Personnel expenses | 33,768 | 39,000 | 62,561 | 135,329 |
General and administrative expenses | 3,292 | 21,544 | 26,839 | 51,675 |
Depreciation and amortisation | 3,682 | 3,336 | 15,393 | 22,411 |
Valuation allowances, provisions and losses | 2,270 | 716 | –218 | 2,768 |
Services to/from other segments | 40,389 | 0 | –40,389 | 0 |
Operating expenses | 83,401 | 64,596 | 64,186 | 212,183 |
Earnings before income tax | 94,661 | 2,257 | –35,869 | 61,049 |
Taxes on income |
|
|
| 3,063 |
Group net income |
|
|
| 57,986 |
|
|
|
|
|
Segment assets (in CHF million) | 4,108 | 3,581 | 4,106 | 11,794 |
Segment liabilities (in CHF million) | 7,160 | 3,048 | 649 | 10,857 |
Client assets under management (in CHF billion)2 | 24.6 | 11.2 | 0.0 | 35.8 |
Net new money (in CHF billion) | –0.2 | 0.2 | 0.0 | 0.0 |
Headcount (number of employees) | 185 | 248 | 371 | 804 |
Headcount (expressed as full-time equivalents) | 174.1 | 233.2 | 331.0 | 738.3 |
- Change of accounting principles (note 1 and principles underlying financial statement reporting)
- Calculation in accordance with Table P of the Guidelines to the Liechtenstein Banking Ordinance issued by the Government of Liechtenstein (FL-BankO).
Business segment reporting 2015
in CHF 1,000 | Client | Client | Corporate | Total |
|---|---|---|---|---|
| Liechtenstein | International |
|
|
Total net interest income1 | 51,366 | 20,672 | 16,328 | 88,366 |
Total net income from commission | 91,847 | 38,853 | –4,330 | 126,370 |
Income from trading activities1 | 23,866 | 9,790 | 8,527 | 42,183 |
Income from financial instruments | 16 | –897 | 139 | –742 |
Other income2 | 0 | 983 | 49,394 | 50,377 |
Total operating income | 167,095 | 69,401 | 70,058 | 306,554 |
Personnel expenses | 32,565 | 36,752 | 52,563 | 121,880 |
General and administrative expenses | 2,952 | 19,071 | 38,212 | 60,235 |
Depreciation and amortisation | 3,672 | 4,455 | 30,126 | 38,253 |
Valuation allowances, provisions and losses | 2,917 | 11,761 | 11,350 | 26,028 |
Services to/from other segments | 47,691 | 0 | –47,691 | 0 |
Operating expenses | 89,797 | 72,039 | 84,560 | 246,396 |
Earnings before income tax5 | 77,298 | –2,638 | –14,502 | 60,158 |
Taxes on income |
|
|
| –3,898 |
Group net income |
|
|
| 64,056 |
|
|
|
|
|
Segment assets (in CHF million) | 4,467 | 3,247 | 4,647 | 12,361 |
Segment liabilities (in CHF million) | 7,792 | 2,928 | 723 | 11,443 |
Client assets under management (in CHF billion)3, 4 | 24.3 | 10.5 | 0.0 | 34.8 |
Net new money (in CHF billion)4 | 5.8 | 0.2 | 0.0 | 6.0 |
Headcount (number of employees) | 171 | 245 | 382 | 798 |
Headcount (expressed as full-time equivalents) | 161.5 | 233.4 | 339.5 | 734.4 |
- Change of accounting principles (note 1 and principles underlying financial statement reporting)
- The non-recurring positive effect of the «bargain purchase» (badwill arising on acquisition) is disclosed in the Corporate Center.
- Calculation in accordance with Table P of the Guidelines to the Liechtenstein Banking Ordinance issued by the Government of Liechtenstein (FL-BankO).
- Acquired client relationships (note 45) of CHF 6.7 billion are included in this position.
- Centralisation of the investment management operations of VP Bank (Switzerland) Ltd in Liechtenstein as of 1 July 2015 (net CHF 2.7 billion).
The recharging of costs and revenues between the business units takes place on the basis of internal transfer prices, actual recharges or on prevailing market conditions. Recharged costs within the segments are subject to an annual review and are amended to reflect new economic conditions, where necessary.
Geographic segment reporting
in CHF 1,000 | Liechtenstein | Rest of | Other | Total |
|---|---|---|---|---|
2016 |
|
|
|
|
Total operating income | 233,836 | 20,709 | 18,687 | 273,232 |
Total assets | 10,913 | 463 | 418 | 11,794 |
|
|
|
|
|
2015 |
|
|
|
|
Total operating income | 261,819 | 29,418 | 15,317 | 306,554 |
Total assets | 11,109 | 898 | 354 | 12,361 |
Segment reporting follows the principle of branch accounting.