Business segment result
The LLB Group reports the structural contribution from interest business, the valuation of interest rate hedging instruments and income from financial investments under the Corporate Center. Operating income fell by CHF 41.5 million to CHF 29.1 million. The decrease was attributable to accounting losses incurred with financial investments measured at fair value on the reporting date. The valuation of interest rate hedging instruments measured on the reporting date caused lower trading income. Operating expenses rose on account of the strategic expansion of personnel in the areas of innovation and risk management. In addition expenses increased as a result of the acquisitions.
Download |
in CHF thousands |
2018 |
2017 |
+/− % |
|||
---|---|---|---|---|---|---|
Net interest income |
11'543 |
17'767 |
–35.0 |
|||
Expected credit losses |
175 |
0 |
|
|||
Net interest income after expected credit losses |
11'718 |
17'767 |
–34.0 |
|||
Net fee and commission income |
–9'040 |
–4'406 |
105.2 |
|||
Net trading income |
42'767 |
51'452 |
–16.9 |
|||
Net income from financial investments at fair value |
–19'396 |
2'625 |
|
|||
Share of net income of joint venture |
–3 |
–14 |
–81.9 |
|||
Other income |
3'100 |
3'184 |
–2.6 |
|||
Total operating income |
29'146 |
70'607 |
–58.7 |
|||
Personnel expenses |
–87'554 |
–75'604 |
15.8 |
|||
General and administrative expenses |
–81'097 |
–74'105 |
9.4 |
|||
Depreciation and amortisation |
–32'575 |
–28'734 |
13.4 |
|||
Services (from) / to segments |
102'045 |
89'831 |
13.6 |
|||
Total operating expenses |
–99'181 |
–88'612 |
11.9 |
|||
Segment profit before tax |
–70'035 |
–18'005 |
289.0 |