Business segment result

The segment profit before tax of the Institutional Clients segment rose by 20.0 per cent to CHF 72.3 million. Operating income improved largely on account of the good performance in fees and commissions business. Thanks to active sales and marketing efforts, as well as the positive contributions made by the two acquisitions, growth in this business area was up 29.9 per cent to CHF 105.2 million. Operating expenses increased on account of higher personnel expenses. The inflows in all business areas made a pleasing contribution to the positive net new money inflow of 9.0 per cent or CHF 3.8 billion. Investment fund business in Austria provided particularly gratifying inflows. The business volume expanded by 17.9 per cent to CHF 50.7 billion. The LLB Group invests on average around CHF 35 million in IT and infrastructure projects.

Business segment result: Institutional Clients
Business segment result: Institutional Clients (Balkendiagramm)
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Segment reporting

in CHF thousands

 

2019

 

2018

 

+/− %

Net interest income

 

21'310

 

19'817

 

7.5

Expected credit losses

 

–215

 

0

 

 

Net interest income after expected credit losses

 

21'095

 

19'817

 

6.5

Net fee and commission income

 

105'195

 

80'952

 

29.9

Net trading income

 

10'149

 

11'007

 

–7.8

Other income

 

–3

 

2

 

 

Total operating income

 

136'436

 

111'778

 

22.1

Personnel expenses

 

–32'650

 

–26'220

 

24.5

General and administrative expenses

 

–1'127

 

–4'647

 

–75.7

Depreciation and amortisation

 

–377

 

–116

 

224.1

Services (from) / to segments

 

–29'979

 

–20'550

 

45.9

Total operating expenses

 

–64'133

 

–51'534

 

24.4

Segment profit before tax

 

72'303

 

60'244

 

20.0

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Performance figures

 

 

2019

 

2018

*

Operating income (excluding expected credit losses) relative to average monthly business volumes.

**

Operating expenses (excluding provisions for legal and litigation risks) in relation to operating income (excluding expected credit losses).

Gross margin (in basis points) *

 

28.8

 

31.1

Cost-Income-Ratio (in per cent) **

 

50.4

 

46.1

Net new money (in CHF millions)

 

3'813

 

89

Growth of net new money (in per cent)

 

9.0

 

0.3

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Additional information

 

 

31.12.2019

 

31.12.2018

 

+/− %

Business volume (in CHF millions)

 

50'694

 

43'007

 

17.9

Assets under management (in CHF millions)

 

50'182

 

42'489

 

18.1

Loans (in CHF millions)

 

512

 

518

 

–1.2

Employees (full-time equivalents, in positions)

 

172

 

171

 

0.5