Income statement
in CHF 1,000 | 2022 | 20211 | Variance | Variance |
|---|---|---|---|---|
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| absolute | in % |
Interest income | 97,830 | 73,217 | 24,613 | 33.6 |
of which from interest-bearing securities | 27,523 | 25,251 | 2,272 | 9.0 |
of which from trading transactions | 143 | 183 | –40 | –21.8 |
Interest expense | 50,092 | 6,121 | 43,971 | n.a. |
Net interest income | 47,738 | 67,096 | –19,358 | –28.9 |
Current income from securities | 23,264 | 14,721 | 8,543 | 58.0 |
shares and other non-interest-bearing securities | 7,349 | 7,360 | –11 | –0.1 |
of which from trading transactions | 0 | 0 | 0 | 0.0 |
participations | 2 | 1 | 1 | 69.9 |
shares in affiliated companies | 15,913 | 7,360 | 8,553 | 116.2 |
Income from commission business and services | 85,764 | 98,220 | –12,456 | –12.7 |
commission income from credit business | 634 | 710 | –76 | –10.7 |
commission income from securities and investment business | 72,694 | 84,684 | –11,990 | –14.2 |
commission income from other services | 12,436 | 12,826 | –390 | –3.0 |
Commission expenses | 14,484 | 16,227 | –1,743 | –10.7 |
Net income from commission business and services | 71,280 | 81,993 | –10,713 | –13.1 |
Income from financial transactions | 78,430 | 46,950 | 31,480 | 67.0 |
of which from trading transactions | 81,753 | 48,935 | 32,818 | 67.1 |
Other ordinary income | 13,099 | 12,006 | 1,093 | 9.1 |
income from real estate | 167 | 180 | –13 | –7.1 |
other ordinary income | 12,932 | 11,826 | 1,106 | 9.4 |
Total net operating income | 233,811 | 222,766 | 11,045 | 5.0 |
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Operating expenses | 179,462 | 163,203 | 16,259 | 10.0 |
personnel expenses | 116,891 | 115,035 | 1,856 | 1.6 |
general and administrative expenses | 62,571 | 48,168 | 14,403 | 29.9 |
Gross income | 54,349 | 59,563 | –5,214 | –8.8 |
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Depreciation and amortisation of intangible assets and | 26,075 | 20,004 | 6,071 | 30.3 |
Other ordinary expenses | 7,150 | 4,110 | 3,040 | 74.0 |
Valuation allowances on receivables and increases in provisions | 7,770 | 1,560 | 6,210 | 397.9 |
Income from release of valuation allowances on receivables and | 7,027 | 1,783 | 5,244 | 294.1 |
Write-offs on participations, shares in affiliated companies and | 0 | 0 | 0 | 0.0 |
Gains from appreciations on participations, shares in affiliated companies | 0 | 0 | 0 | 0.0 |
Income from normal business operations | 20,381 | 35,672 | –15,291 | –42.9 |
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Extraordinary income | 0 | 0 | 0 | 0.0 |
Extraordinary expenses | 0 | 0 | 0 | 0.0 |
Taxes on income | 766 | 4,368 | –3,602 | –82.5 |
Other taxes if not included in above items | 927 | 885 | 42 | 4.8 |
Net income for the year | 18,689 | 30,419 | –11,730 | –38.6 |
- The valuation of fixed-interest financial assets was changed from the lower of cost or market principle to the accrual method during the reporting period. The positive valuation effect on the financial assets as at 31 December 2021 amounts to CHF 5.9 million. The net annual profit for 2021 increases by CHF 5.2 million. The affected items of the previous year’s balance sheet and income statement were adjusted accordingly.