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
| Download |
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 |
| Download |
|
2019 |
2018 |
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|---|---|---|---|---|---|---|---|---|
|
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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 |
||||||
| Download |
|
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 |