UBS AG
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Quarterly Reporting  
     
Quarterly Results at a Glance
Financial Businesses
Industrial Holdings
Capital Management
Financial Statements
UBS Registered Shares
Quarterly Themes
Contacts
 

Private Banks & GAM
Private Banks & GAM

Quarter ended% change fromYear ended

CHF million, except where indicated

31.12.
2004

30.9.
2004

31.12.
2003

3Q04

4Q03

31.12.
2004

31.12.
2003

 

Income

306

272

232

13

32

1,145

880

Adjusted expected credit loss1

(4)

(2)

0

(100)

(6)

(2)

 

Total operating income

302

270

232

12

30

1,139

878

 

Personnel expenses

120

99

102

21

18

432

381

General and administrative expenses

42

34

53

24

(21)

160

169

Services to / from other business units

2

2

3

0

(33)

10

11

Depreciation

5

5

8

0

(38)

20

28

Amortization of goodwill and other intangible assets

18

18

20

0

(10)

74

81

 

Total operating expenses

187

158

186

18

1

696

670

 

Business unit performance before tax

115

112

46

3

150

443

208

 

Business unit performance before tax and amortization
of goodwill and other intangible assets

133

130

66

2

102

517

289

KPIs

Invested assets (CHF billion)

92

93

84

(1)

10

Net new money (CHF billion)2

(0.6)

(0.6)

3.0

7.7

7.2

 

Cost / income ratio (%)3

61.1

58.1

80.2

60.8

76.1

Cost / income ratio before goodwill (%)4

55.2

51.5

71.6

54.3

66.9

 

Additional Information% change from

As at

31.12.
2004

30.9.
2004

31.12.
2003

3Q04

4Q03

 

Regulatory equity allocated (average)

600

650

700

(8)

(14)

Headcount (full-time equivalents)

1,649

1,622

1,672

2

(1)

 

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