Financial Businesses Results

Income statement

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Income statement

Income statement¹
	As of or for the quarter ended			% change from		Year to date
CHF million, except where indicated	30.6.07	31.3.07	30.6.06	1Q07	2Q06	30.6.07	30.6.06

Continuing operations
Interest income	29,011	25,942	21,339	12	36	54,953	40,385
Interest expense	(28,182)	(24,634)	(20,031)	14	41	(52,816)	(37,227)
Net interest income	829	1,308	1,308	(37)	(37)	2,137	3,158
Credit loss (expense)/recovery	14	1	38		(63)	15	121
Net interest income after credit loss expense	843	1,309	1,346	(36)	(37)	2,152	3,279
Net fee and commission income	8,099	7,396	6,422	10	26	15,495	12,651
Net trading income	4,121	4,535	3,793	(9)	9	8,656	7,494
Other income	2,588	107	496		422	2,695	1,013
Total operating income	15,651	13,347	12,057	17	30	28,998	24,437
Cash components	6,365	6,282	5,344	1	19	12,647	11,030
Share-based components ²	755	527	593	43	27	1,282	1,107
Total personnel expenses	7,120	6,809	5,937	5	20	13,929	12,137
General and administrative expenses	2,266	1,900	1,754	19	29	4,166	3,658
Services (to)/from other business units	(78)	(2)	(2)			(80)	(5)
Depreciation of property and equipment	323	300	296	8	9	623	566
Amortization of intangible assets	64	84	32	(24)	100	148	66
Total operating expenses	9,695	9,091	8,017	7	21	18,786	16,422
Operating profit from continuing operations before tax	5,956	4,256	4,040	40	47	10,212	8,015
Tax expense	647	971	911	(33)	(29)	1,618	1,753
Net profit from continuing operations	5,309	3,285	3,129	62	70	8,594	6,262

Discontinued operations
Profit from discontinued operations before tax	(1)	8	0			7	0
Tax expense	(260)	2	0			(258)	0
Net profit from discontinued operations	259	6	0			265	0

Net profit	5,568	3,291	3,129	69	78	8,859	6,262
Net profit attributable to minority interests	157	103	97	52	62	260	182
from continuing operations	157	103	97	52	62	260	182
from discontinued operations	0	0	0			0	0
Net profit attributable to UBS shareholders	5,411	3,188	3,032	70	78	8,599	6,080
from continuing operations	5,152	3,182	3,032	62	70	8,334	6,080
from discontinued operations	259	6	0			265	0

Additional information
Personnel (full-time equivalents)	81,557	80,637	71,882	1	13
1 Excludes results from industrial holdings. 2 Additionally includes related social security contributions and expenses related to alternative investment awards.

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