Business segment result
Private Banking
780'000'000
Swiss francs net new money was acquired by the Private Banking segment. That represents growth in client assets under management of more than 5 per cent.
The Private Banking segment increased operating income by 10 per cent. The acquisition of Semper Constantia contributed around CHF 5 million to this rise. Adjusted to take into consideration the effects of the acquisition, operating income rose by 5 per cent. Among other factors, the segment benefited from rising US dollar interest rates. Operating expenses increased, on the one hand because of the acquisitions, and on the other, due to the expansion of adviser capacity in line with strategy. Thanks to a net new money inflow of over 5 per cent, or CHF 0.8 billion, client assets under management climbed substantially. The Austrian domestic market and the growth markets of the Middle East, as well as Central and Eastern Europe contributed to this success with double-digit growth rates. As a result of the takeover of Semper Constantia, loans to clients also increased. The business volume expanded by 13.8 per cent to CHF 18.2 billion. Without the effects of the acquisitions, the business volume remained stable.
Download |
in CHF thousands |
2018 |
2017 |
+/− % |
|||
---|---|---|---|---|---|---|
Net interest income |
36'317 |
25'992 |
39.7 |
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Expected credit losses |
0 |
0 |
|
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Net interest income after expected credit losses |
36'317 |
25'992 |
39.7 |
|||
Net fee and commission income |
73'640 |
72'825 |
1.1 |
|||
Net trading income |
8'639 |
8'826 |
–2.1 |
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Other income |
3 |
8 |
–67.8 |
|||
Total operating income |
118'597 |
107'651 |
10.2 |
|||
Personnel expenses |
–38'195 |
–32'200 |
18.6 |
|||
General and administrative expenses |
–3'431 |
–2'650 |
29.5 |
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Depreciation and amortisation |
–5 |
0 |
|
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Services (from) / to segments |
–31'368 |
–27'344 |
14.7 |
|||
Total operating expenses |
–73'000 |
–62'195 |
17.4 |
|||
Segment profit before tax |
45'597 |
45'456 |
0.3 |
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2018 |
2017 |
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Gross margin (in basis points) * |
68.8 |
70.3 |
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Cost-Income-Ratio (in per cent) ** |
61.6 |
57.8 |
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Net new money (in CHF millions) |
780 |
172 |
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Growth of net new money (in per cent) |
5.4 |
1.3 |