Business segment result
At CHF 46.2 million, the Institutional Clients segment posted a new record segment result.
Operating income rose by 7.4 percent to CHF 77.9 million. The rise was attributable to higher earnings from interest business as well as the release of value adjustments for credit losses. Interest business benefitted from higher margins on foreign currency holdings. The restraint shown by investors with stock market transactions led to a decline in brokerage earnings in commission business. In contrast, income from funds business showed a gratifying rise. Operating expenses increased by 10.6 percent. This was attributable to higher accruals for variable salary components and an increase in internal offsetting with other divisions.
Client assets under management posted an increase of 1.3 percent to CHF 24.7 billion. Loans to clients remained stable at CHF 0.5 billion. As a result of individual larger outflows triggered by public institutions and in cross-border business, net new money amounted to minus CHF 568 million.
| Download |
in CHF thousands |
2016 |
2015 |
+/− % |
|||
|---|---|---|---|---|---|---|
Net interest income |
10'300 |
8'147 |
26.4 |
|||
Credit loss (expense) / recovery |
1'275 |
–5'979 |
|
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Net interest income after credit loss expense |
11'575 |
2'168 |
433.9 |
|||
Net fee and commission income |
55'795 |
56'907 |
–2.0 |
|||
Net trading income |
10'538 |
11'896 |
–11.4 |
|||
Other income |
3 |
1'584 |
–99.8 |
|||
Total operating income |
77'911 |
72'555 |
7.4 |
|||
Personnel expenses |
–17'041 |
–15'575 |
9.4 |
|||
General and administrative expenses |
–2'538 |
–2'985 |
–15.0 |
|||
Depreciation and amortisation |
0 |
0 |
|
|||
Services (from) / to segments |
–12'167 |
–10'133 |
20.1 |
|||
Total operating expenses |
–31'746 |
–28'693 |
10.6 |
|||
Segment profit before tax |
46'165 |
43'862 |
5.3 |
| Download |
|
2016 |
2015 |
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|---|---|---|---|---|---|---|---|---|
|
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Net new money (in CHF millions) |
–568 |
–193 |
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Growth of net new money (in percent) |
–2.3 |
–0.8 |
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Cost-Income-Ratio (in percent) * |
41.4 |
37.2 |
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Gross margin (in basis points) ** |
30.8 |
31.5 |
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| Download |
|
31.12.2016 |
31.12.2015 |
+/− % |
|||
|---|---|---|---|---|---|---|
Business volume (in CHF millions) |
25'227 |
24'854 |
1.5 |
|||
Assets under management (in CHF millions) |
24'704 |
24'394 |
1.3 |
|||
Loans (in CHF millions) |
523 |
460 |
13.7 |
|||
Employees (full-time equivalents, in positions) |
86 |
84 |
2.4 |