UBS - Business Group reporting

In first quarter 2006, the Investment Bank posted a pre-tax profit of CHF 1,750 million, up 34% from the same period last year, making this our most profitable quarter ever. Revenue growth in all business areas more than offset an increase in compensation and general and administrative expenses.

Search only in Quarterly Reporting Q1 2006

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Business Group reporting


Business Group reporting
	Quarter ended			% change from
CHF million, except where indicated	31.3.06	31.12.05	31.3.05	4Q05	1Q05
Equities	2,844	1,916	1,646	48	73
Fixed income, rates and currencies	2,448	1,817	2,283	35	7
Investment banking	666	850	465	(22)	43
Income	5,958	4,583	4,394	30	36
Adjusted expected credit loss ¹	12	7	8	71	50
Total operating income	5,970	4,590	4,402	30	36
Cash components	2,809	2,017	2,128	39	32
Share-based components ²	385	297	284	30	36
Total personnel expenses	3,194	2,314	2,412	38	32
General and administrative expenses	799	671	493	19	62
Services to / from other business units	175	178	149	(2)	17
Depreciation of property and equipment	37	40	29	(8)	28
Amortization of intangible assets	15	15	12	0	25
Total operating expenses	4,220	3,218	3,095	31	36
Business Group performance before tax	1,750	1,372	1,307	28	34

KPIs
Compensation ratio (%) ³	54	50	55
Cost / income ratio (%) ⁴	70.8	70.2	70.4
Non-performing loans as a % of lending portfolio, gross	0.1	0.2	0.2
Impaired lending portfolio as a % of lending portfolio, gross	0.2	0.2	0.4
Average VaR (10-day 99%)	429	315	369	36	16

Capital return and BIS data
Return on allocated regulatory capital (%) ⁵	36.1	28.6	32.5
BIS risk-weighted assets	148,912	151,313	130,666	(2)	14
Goodwill	4,406	4,309	3,911	2	13
Allocated regulatory capital ⁶	19,297	19,440	16,978	(1)	14

Additional Information	As at			% change from
	31.3.06	31.12.05	31.3.05	4Q05	1Q05
Deferral (included in adjusted expected credit loss)	47	41	33	15	42
Client assets (CHF billion)	163	164	153	(1)	7
Personnel (full-time equivalents)	18,734	18,174	17,194	3	9

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 Additionally includes related social security contributions and expenses related to alternative investment awards. 3 Personnel expenses / income. 4 Operating expenses / income. 5 Year to date Business Group performance before tax (annualized as applicable) / allocated regulatory capital year to date average. 6 10% of BIS risk-weighted assets plus goodwill.

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