Business segment result

The Private Banking segment increased operating income by 11.5 per cent. Thanks to operative improvements, growth was achieved both in fee and commission business and interest differential business. Moreover, a write-back of provisions had a positive impact on operating expenses, which were kept at the same level as in the previous year. The segment profit before tax improved therefore by 30.7 per cent or CHF 14.0 million. Thanks to the improved earning power, the gross margin rose to 72.4 basis points. Both client assets under management and loans to clients increased. The business volume expanded by 2.9 per cent to CHF 18.7 billion.

Business segment result: Private Banking
Business segment result: Private Banking (Balkendiagramm)
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Segment reporting

in CHF thousands

 

2019

 

2018

 

+/− %

Net interest income

 

40'299

 

36'317

 

11.0

Expected credit losses

 

486

 

0

 

 

Net interest income after expected credit losses

 

40'785

 

36'317

 

12.3

Net fee and commission income

 

82'973

 

73'640

 

12.7

Net trading income

 

8'460

 

8'639

 

–2.1

Other income

 

2

 

3

 

–35.8

Total operating income

 

132'220

 

118'597

 

11.5

Personnel expenses

 

–37'238

 

–38'195

 

–2.5

General and administrative expenses

 

1'837

 

–3'431

 

 

Depreciation and amortisation

 

–134

 

–5

 

 

Services (from) / to segments

 

–37'072

 

–31'368

 

18.2

Total operating expenses

 

–72'608

 

–73'000

 

–0.5

Segment profit before tax

 

59'612

 

45'597

 

30.7

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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) *

 

72.4

 

68.8

Cost-Income-Ratio (in per cent) **

 

58.7

 

61.6

Net new money (in CHF millions)

 

89

 

780

Growth of net new money (in per cent)

 

0.5

 

5.4

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Additional information

 

 

31.12.2019

 

31.12.2018

 

+/− %

Business volume (in CHF millions)

 

18'743

 

18'216

 

2.9

Assets under management (in CHF millions)

 

16'859

 

16'350

 

3.1

Loans (in CHF millions)

 

1'884

 

1'866

 

0.9

Employees (full-time equivalents, in positions)

 

185

 

189

 

–2.2