Corporate Center

Business Group reporting

With the sale of Private Banks & GAM, Corporate Center recorded a pre-tax gain of CHF 3,911 million in fourth quarter 2005. The continuing operations of Corporate Center reported a pre-tax loss of CHF 242 million in fourth quarter 2005, compared to a loss of CHF 151 million in third quarter 2005. Pre-goodwill and before tax, the loss from continuing operations in fourth quarter a year earlier was CHF 417 million.

Search only in Quarterly Reporting Q4 2005

Spreadsheets

Business Group reporting

	Quarter ended			% change from		Year ended

CHF million, except where indicated	31.12.05	30.9.05	31.12.04	3Q05	4Q04	31.12.05	31.12.04


Income	111	114	(120)	(3)		455	112
Credit loss (expense) / recovery¹	88	1	48		83	232	286


Total operating income	199	115	(72)	73		687	398


Cash components	350	228	223	54	57	1,059	728
Share-based components²	27	24	18	13	50	108	68


Total personnel expenses	377	252	241	50	56	1,167	796
General and administrative expenses	315	233	250	35	26	1,084	1,077
Services to / from other business units	(457)	(426)	(353)	(7)	(29)	(1,730)	(1,509)
Depreciation of property and equipment	204	200	204	2	0	857	794
Amortization of goodwill	0	0	1		(100)	0	1
Amortization of other intangible assets	2	7	3	(71)	(33)	17	17


Total operating expenses	441	266	346	66	27	1,395	1,176


Business Group performance from continuing operations before tax	(242)	(151)	(418)	(60)	42	(708)	(778)
Business Group performance from discontinued operations before tax	4,153	145	103³			4,564	396³


Business Group performance before tax	3,911	(6)	(315)			3,856	(382)


Business Group performance before tax and amortization of goodwill from continuing operations	(242)	(151)	(417)	(60)	42	(708)	(777)

Additional Information	As at			% change from

	31.12.05	30.9.05	31.12.04	30.9.05	31.12.04


BIS risk-weighted assets (CHF million)	8,143	10,947	9,841	(26)	(17)
Personnel (full-time equivalents)	3,922	5,529	5,202	(29)	(25)
Personnel excluding IT Infrastructure (ITI) (full-time equivalents)	1,370	3,001	2,848	(54)	(52)
Personnel for ITI (full-time equivalents)	2,552	2,528	2,354	1	8

1 In order to show the relevant Business Group performance over time, adjusted expected credit loss rather than credit loss expense is reported for all business groups. The difference between the adjusted expected credit loss and credit loss expense recorded at Group level is reported in Corporate Center (see note 2 to the financial statements).
2 Additionally includes related social security contributions and expenses related to alternative investment awards.
3 Includes goodwill amortization of CHF 14 million and CHF 68 million for the quarter ended 31 December 2004 and for the year ended 31 December 2004 respectively.

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