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

Income statement

Appropriation of profit

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