Business segment result

Institutional Clients

43'000'000'000

Swiss francs is the total business volume of the Institutional Clients segment. That is an increase of about 55 per cent.

The segment profit before tax of the Institutional Clients segment rose by 8 per cent. Operating income improved largely on account of the good performance of interest business from foreign currency investments. Income from fees and commissions exceeded the previous year’s result thanks to active sales and marketing efforts, as well as the first-time consolidation of LLB Swiss Investment AG and Semper Constantia. The two acquisitions made a positive contribution of CHF 26.8 million to the increase in operating income. Operating expenses increased on account of the takeover of the personnel of the acquired companies. Thanks to the takeover of Semper Constantia, the business volume rose by over 50 per cent and now stands at CHF 43 billion. Adjusted to consider the acquisition volumes, the business volume decreased due to market factors.

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Segment reporting

in CHF thousands

 

2018

 

2017

 

+/− %

Net interest income

 

19'817

 

14'725

 

34.6

Expected credit losses

 

0

 

7'500

 

–100.0

Net interest income after expected credit losses

 

19'817

 

22'225

 

–10.8

Net fee and commission income

 

80'952

 

56'201

 

44.0

Net trading income

 

11'007

 

11'138

 

–1.2

Other income

 

2

 

2

 

–7.0

Total operating income

 

111'778

 

89'566

 

24.8

Personnel expenses

 

–26'220

 

–17'709

 

48.1

General and administrative expenses

 

–4'647

 

–2'507

 

85.4

Depreciation and amortisation

 

–116

 

0

 

 

Services (from) / to segments

 

–20'550

 

–13'369

 

53.7

Total operating expenses

 

–51'534

 

–33'585

 

53.4

Segment profit before tax

 

60'244

 

55'981

 

7.6

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Performance figures

 

 

2018

 

2017

*

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) *

 

31.1

 

30.7

Cost-Income-Ratio (in per cent) **

 

46.1

 

40.9

Net new money (in CHF millions)

 

89

 

397

Growth of net new money (in per cent)

 

0.3

 

1.6

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Additional information

 

 

31.12.2018

 

31.12.2017

 

+/− %

Business volume (in CHF millions)

 

43'007

 

27'790

 

54.8

Assets under management (in CHF millions)

 

42'489

 

27'485

 

54.6

Loans (in CHF millions)

 

518

 

305

 

69.8

Employees (full-time equivalents, in positions)

 

171

 

90

 

89.8