Financial Businesses

Search only in Quarterly Reporting Q2 2005

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Income statement ¹

	Quarter ended			% change from		Year to date

CHF million, except where indicated	30.6.05	31.3.05	30.6.04	1Q05	2Q04	30.6.05	30.6.04



Operating income

Interest income	15,576	12,574	9,767	24	59	28,150	19,318
Interest expense	(13,356)	(9,884)	(6,903)	35	93	(23,240)	(13,429)


Net interest income	2,220	2,690	2,864	(17)	(22)	4,910	5,889
Credit loss (expense) / recovery	69	137	128	(50)	(46)	206	130


Net interest income after credit loss expense	2,289	2,827	2,992	(19)	(23)	5,116	6,019


Net fee and commission income	5,380	5,155	4,856	4	11	10,535	9,883
Net trading income	1,586	1,936	1,363	(18)	16	3,522	3,337
Other income	126	186	218	(32)	(42)	312	325


Total operating income	9,381	10,104	9,429	(7)	(1)	19,485	19,564
Operating expenses

Cash components	4,308	4,686	4,226	(8)	2	8,994	8,899
Share-based components	418	393	323	6	29	811	744


Total personnel expenses	4,726	5,079	4,549	(7)	4	9,805	9,643
General and administrative expenses	1,505	1,457	1,736	3	(13)	2,962	3,240
Services to / from other business units	(5)	(2)	(5)	(150)	0	(7)	(11)
Depreciation of property and equipment	324	312	322	4	1	636	625
Amortization of goodwill	0	0	183		(100)	0	363
Amortization of other intangible assets	33	31	42	6	(21)	64	87


Total operating expenses	6,583	6,877	6,827	(4)	(4)	13,460	13,947


Operating profit before tax	2,798	3,227	2,602	(13)	8	6,025	5,617


Tax expense	595	652	549	(9)	8	1,247	1,219


Net profit	2,203	2,575	2,053	(14)	7	4,778	4,398


Net profit attributable to minority interests	92	148	113	(38)	(19)	240	210
Net profit attributable to UBS shareholders	2,111	2,427	1,940	(13)	9	4,538	4,188

Additional information	As at			% change from

	30.6.05	31.3.05	30.6.04	31.3.05	30.6.04


Headcount (full-time equivalents)	69,200	68,197	66,022	1	5