16 Non-current assets and liabilities held for sale

Properties, which are wholly owned by individual Group companies and are available for immediate disposal, encompass utilised bank branches and rental apartments, as well as unused properties. In the first half of 2019 a property was sold at a profit of CHF 0.6 million, the carrying value amounted to CHF 0.9 million. The sale of a second property was delayed and will probably now take place in the third quarter of 2019. Some offers have been received or initial sales discussions are being been held for other properties. The balance sheet value of properties to be sold in the third quarter totals CHF 1.2 million. A profit on sales of around CHF 0.9 million is expected.

Furthermore, a company, which manages rental apartments, that is not wholly owned is also designated for immediate sale.

The net balance sheet value of all assets totals CHF 19.0 million.