Business segment result

The LLB Group reports the structural contribution from interest business, the valuation of interest rate hedging instruments and income from financial investments under the Corporate Center. Operating income fell by CHF 41.5 million to CHF 29.1 million. The decrease was attributable to accounting losses incurred with financial investments measured at fair value on the reporting date. The valuation of interest rate hedging instruments measured on the reporting date caused lower trading income. Operating expenses rose on account of the strategic expansion of personnel in the areas of innovation and risk management. In addition expenses increased as a result of the acquisitions.

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Segment reporting

in CHF thousands

 

2018

 

2017

 

+/− %

Net interest income

 

11'543

 

17'767

 

–35.0

Expected credit losses

 

175

 

0

 

 

Net interest income after expected credit losses

 

11'718

 

17'767

 

–34.0

Net fee and commission income

 

–9'040

 

–4'406

 

105.2

Net trading income

 

42'767

 

51'452

 

–16.9

Net income from financial investments at fair value

 

–19'396

 

2'625

 

 

Share of net income of joint venture

 

–3

 

–14

 

–81.9

Other income

 

3'100

 

3'184

 

–2.6

Total operating income

 

29'146

 

70'607

 

–58.7

Personnel expenses

 

–87'554

 

–75'604

 

15.8

General and administrative expenses

 

–81'097

 

–74'105

 

9.4

Depreciation and amortisation

 

–32'575

 

–28'734

 

13.4

Services (from) / to segments

 

102'045

 

89'831

 

13.6

Total operating expenses

 

–99'181

 

–88'612

 

11.9

Segment profit before tax

 

–70'035

 

–18'005

 

289.0

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Additional information

 

 

31.12.2018

 

31.12.2017

 

+/− %

Employees (full-time equivalents, in positions)

 

529

 

423

 

25.1