Global Wealth Management & Business Banking

Business Group reporting

Global Wealth Management & Business Banking pre-tax profit fell 12% to CHF 1,837 million in third quarter 2006 from CHF 2,094 million in second quarter 2006. Pre-tax profit for the international and Swiss wealth management businesses was CHF 1,226 million, down 4% from the record CHF 1,283 million in second quarter 2006. Due to the provision on a long-term lease on a New Jersey office building, Wealth Management US’s pre-tax profit was CHF 43 million this quarter, down from CHF 179 million in second quarter. Net new money inflows from the wealth management businesses were a strong CHF 26.8 billion in third quarter. Business Banking Switzerland’s pre-tax profit was CHF 568 million, down 10% from the record level set in second quarter.

Search only in Quarterly Reporting Q3 2006

Spreadsheets

Business Group reporting


Business Group reporting
	As at or for the quarter ended			% change from		Year to date
CHF million, except where indicated	30.9.06	30.6.06	30.9.05	2Q06	3Q05	30.9.06	30.9.05
Income	5,295	5,426	4,901	(2)	8	16,109	14,062
Adjusted expected credit loss ¹	36	43	25	(16)	44	122	70
Total operating income	5,331	5,469	4,926	(3)	8	16,231	14,132
Cash components	2,200	2,267	2,126	(3)	3	6,768	6,152
Share-based components ²	72	75	57	(4)	26	224	180
Total personnel expenses	2,272	2,342	2,183	(3)	4	6,992	6,332
General and administrative expenses	854	692	721	23	18	2,253	1,961
Services (to) / from other business units	292	273	234	7	25	823	715
Depreciation of property and equipment	60	55	61	9	(2)	167	162
Amortization of intangible assets	16	13	13	23	23	44	41
Total operating expenses	3,494	3,375	3,212	4	9	10,279	9,211
Business Group performance before tax	1,837	2,094	1,714	(12)	7	5,952	4,921

KPIs
Cost / income ratio (%) ³	66.0	62.2	65.5			63.8	65.5

Capital return and BIS data
Return on allocated regulatory capital (%) ⁴						38.8	34.6
BIS risk-weighted assets	156,222	150,806	146,422	4	7
Goodwill	5,709	5,100	5,267	12	8
Allocated regulatory capital ⁵	21,331	20,181	19,909	6	7

Additional information
Invested assets (CHF billion)	2,056	1,886	1,822	9	13
Net new money (CHF billion)	26.4	32.7	30.9			94.5	78.2
Client assets (CHF billion)	3,229	2,968	2,754	9	17
Personnel (full-time equivalents)	47,243	44,996	44,222	5	7

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 Operating expenses / income. 4 Year to date Business Group performance before tax (annualized) / allocated regulatory capital year to date average. 5 10% of BIS risk-weighted assets plus goodwill.

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