Wealth Management & Business Banking

Business Group reporting

In first quarter 2005, Wealth Management’s pre-tax profit was CHF 915 million, a quarterly record and a significant increase from fourth quarter 2004. Wealth Management net new money, at CHF 15.4 billion, was at its second-best level ever, benefiting from continued strong inflows from European and Asian clients. Business Banking Switzerland’s pre-tax profit rose to CHF 531 million.

Search only in Quarterly Reporting Q1 2005

Spreadsheets

Business Group reporting

	Quarter ended			% change from

CHF million, except where indicated	31.3.05	31.12.04	31.3.04	4Q04	1Q04


Income	3,297	3,159	3,203	4	3
Adjusted expected credit loss¹	18	4	(17)	350


Total operating income	3,315	3,163	3,186	5	4


Cash components	1,195	1,088	1,113	10	7
Share-based components	36	32	26	13	38


Total personnel expenses	1,231	1,120	1,139	10	8
General and administrative expenses	420	460	394	(9)	7
Services to / from other business units	183	204	238	(10)	(23)
Depreciation	33	40	29	(18)	14
Amortization of goodwill	0	16	15	(100)	(100)
Amortization of other intangible assets	2	2	3	0	(33)


Total operating expenses	1,869	1,842	1,818	1	3


Business Group performance before tax	1,446	1,321	1,368	9	6


Business Group performance before tax and amortization of goodwill	1,446	1,337	1,383	8	5
KPIs

Cost / income ratio (%)²	56.7	58.3	56.8
Cost / income ratio before goodwill (%)	56.7	57.8³	56.3³
Capital return and BIS data

Return on adjusted regulatory capital (%)⁴	44.0	42.2	43.5
Return on adjusted regulatory capital before goodwill (%)	44.0	42.8⁵	44.0⁵
BIS risk-weighted assets (CHF million)	122,296	116,340	118,609	5	3
Goodwill (CHF million)	1,257	1,176	877	7	43
Adjusted regulatory capital (CHF million)⁶	13,487	12,810	12,738	5	6

Additional information	As at			% change from

	31.3.05	31.12.04	31.3.04	31.12.04	31.3.04


Client assets (CHF billion)	1,691	1,627	1,573	4	8
Headcount (full-time equivalents)	26,014	25,601	25,301	2	3

1 In management accounts, adjusted expected credit loss rather than credit loss expense is reported for the Business Groups (see note 2 to the financial statements).
2 Operating expenses / income.
3 Operating expenses less the amortization of goodwill / income.
4 Annualized year to date Business Group performance before tax / adjusted regulatory capital year to date average.
5 Annualized year to date Business Group performance before tax and amortization of goodwill / adjusted regulatory capital year to date average.
6 10% of BIS risk-weighted assets plus goodwill.

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