Income statement

in CHF 1,000

2017

2016

Variance

Variance

Art. 24c FL-BankO

 

 

absolute

in %

Interest income

70,143

64,348

5,795

9.0

of which from interest-bearing securities

21,294

20,961

333

1.6

of which from trading transactions

0

25

–25

–99.3

Interest expense

19,260

8,904

10,356

116.3

Net interest income

50,883

55,444

–4,561

–8.2

Current income from securities

8,873

7,566

1,307

17.3

shares and other non-interest-bearing securities

3,966

3,336

630

18.9

of which from trading transactions

0

0

0

0.0

participations

2

2

0

0.0

shares in affiliated companies

4,905

4,228

677

16.0

Income from commission business and services

96,797

94,370

2,427

2.6

commission income from credit business

585

450

135

30.1

commission income from securities and investment business

81,735

79,694

2,041

2.6

commission income from other services

14,477

14,226

251

1.8

Commission expense

17,854

16,831

1,023

6.1

Net income from commission business and services

78,943

77,539

1,404

1.8

Income from financial transactions

72,865

61,513

11,352

18.5

of which from trading transactions

68,959

61,760

7,199

11.7

Other ordinary income

3,973

3,489

484

13.9

income from real estate

158

176

–18

–9.8

other ordinary income

3,815

3,313

502

15.1

Total net operating income

215,537

205,551

9,986

4.9

 

 

 

 

 

Operating expenses

135,869

122,677

13,192

10.8

personnel expenses

97,616

89,516

8,100

9.0

general and administrative expenses

38,253

33,161

5,092

15.4

Gross income

79,668

82,874

–3,206

–3.9

 

 

 

 

 

Depreciation and amortisation of intangible assets and
property and equipment

17,068

14,035

3,033

21.6

Other ordinary expenses

389

1,552

–1,163

–74.9

Valuation allowances on receivables and increases in provisions
for contingent liabilities and credit risks

16,676

5,652

11,024

195.0

Income from release of valuation allowances on receivables and
from the release of provisions for contingent liabilities and credit risks

9,440

10,404

–964

–9.3

Write-offs on participations, shares in affiliated companies and
securities dealt with as non-current assets

0

0

0

0.0

Gains from appreciations on participations, shares in affiliated companies
and securities dealt with as non-current assets

0

0

0

0.0

Income from normal business operations

54,975

72,039

–17,064

–23.7

 

 

 

 

 

Extraordinary income

0

1

–1

–100.0

Extraordinary expenses

0

0

0

0.0

Taxes on income

5,771

4,057

1,714

42.3

Other taxes if not included in above items

0

3

–3

–100.0

Net income for the year

49,204

67,980

–18,776

–27.6

 

 

Appropriation of profit

in CHF 1,000

2017

2016

Variance

Variance

Art. 24c FL-BankO

 

 

absolute

in %

Net income for the year

49,204

67,980

–18,776

–27.6

Retained earnings brought forward

87,078

50,868

36,210

71.2

Retained earnings

136,282

118,847

17,435

14.7

 

 

 

 

 

Appropriation of profit

 

 

 

 

Appropriation to other reserves

0

0

0

0.0

Distribution on the basis of company capital

36,385

29,769

6,616

22.2

Other appropriation of profit

0

2,000

–2,000

–100.0

Retained earnings to be carried forward

99,897

87,078

12,819

14.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Board of Directors proposes that the profit be distributed
as follows:

At the disposal of the annual general meeting

136,281,687.12

 

 

 

Distribution of a dividend of
CHF 5.50 per registered share A
CHF 0.55 per registered share B

36,384,791.85

 

 

 

Other appropriation of profit

0.00

 

 

 

Retained earnings to be carried forward

99,896,895.27