Financial Businesses Results

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Income statement

Income statement ¹

	Quarter ended			% change from		Year to date
CHF million, except where indicated	30.6.06	31.3.06	30.6.05	1Q06	2Q05	30.6.06	30.6.05
Continuing operations
Interest income	21,339	19,046	15,535	12	37	40,385	28,072
Interest expense	(20,031)	(17,196)	(13,336)	16	50	(37,227)	(23,201)
Net interest income	1,308	1,850	2,199	(29)	(41)	3,158	4,871
Credit loss (expense) / recovery	38	83	69	(54)	(45)	121	206
Net interest income after credit loss expense	1,346	1,933	2,268	(30)	(41)	3,279	5,077
Net fee and commission income	6,422	6,229	5,128	3	25	12,651	10,027
Net trading income	3,793	3,701	1,568	2	142	7,494	3,485
Other income	496	517	125	(4)	297	1,013	311
Total operating income	12,057	12,380	9,089	(3)	33	24,437	18,900
Cash components	5,344	5,686	4,199	(6)	27	11,030	8,778
Share-based components²	593	514	416	15	43	1,107	806
Total personnel expenses	5,937	6,200	4,615	(4)	29	12,137	9,584
General and administrative expenses	1,754	1,904	1,462	(8)	20	3,658	2,880
Services to / from other business units	(2)	(3)	(5)	33	60	(5)	(7)
Depreciation of property and equipment	296	270	318	10	(7)	566	623
Amortization of intangible assets	32	34	31	(6)	3	66	61
Total operating expenses	8,017	8,405	6,421	(5)	25	16,422	13,141
Operating profit from continuing operations before tax	4,040	3,975	2,668	2	51	8,015	5,759
Tax expense	911	842	566	8	61	1,753	1,202
Net profit from continuing operations	3,129	3,133	2,102	0	49	6,262	4,557
Discontinued operations
Profit from discontinued operations before tax	0	0	130		(100)	0	266
Tax expense	0	0	29		(100)	0	45
Net profit from discontinued operations	0	0	101		(100)	0	221
Net profit	3,129	3,133	2,203	0	42	6,262	4,778
Net profit attributable to minority interests	97	85	92	14	5	182	240
from continuing operations	97	85	92	14	5	182	240
from discontinued operations	0	0	0			0	0
Net profit attributable to UBS shareholders	3,032	3,048	2,111	(1)	44	6,080	4,538
from continuing operations	3,032	3,048	2,010	(1)	51	6,080	4,317
from discontinued operations	0	0	101		(100)	0	221
Additional information	As at			% change from
	30.6.06	31.3.06	30.6.05	31.3.06	30.6.05
Personnel (full-time equivalents)	71,882	70,210	69,200	2	4

1 Excludes results from industrial holdings. 2 Additionally includes related social security contributions and expenses related to alternative investment awards.

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