Global Wealth Management & Business Banking

Business Group reporting

Global Wealth Management & Business Banking's pre-tax profit was a record CHF 2,388 million in third quarter 2007, an increase of CHF 47 million, or 2%, from second quarter 2007. Pre-tax profit for the international and Swiss wealth management businesses, at an all-time high of CHF 1,616 million, was up 5% from second quarter. Wealth Management US's pre-tax profit was CHF 181 million, up 12% from second quarter. In US dollar terms, it rose 14% to a record USD 151 million. Net new money inflows from the wealth management businesses were CHF 40.2 billion in third quarter, up 14% from last quarter. Business Banking Switzerland's pre-tax profit was CHF 591 million, down 7% from the second quarter.

Search only in Quarterly Reporting Q3 2007

Spreadsheets

Business Group reporting

Business Group reporting
	As of or for the quarter ended			% change from		Year to date
CHF million, except where indicated	30.9.07	30.6.07	30.9.06	2Q07	3Q06	30.9.07	30.9.06
Income	6,303	6,246	5,295	1	19	18,510	16,109
Adjusted expected credit loss ¹	39	49	36	(20)	8	138	122
Total operating income	6,342	6,295	5,331	1	19	18,648	16,231
Cash components	2,705	2,650	2,200	2	23	7,950	6,768
Share-based components ²	85	101	72	(16)	18	268	224
Total personnel expenses	2,790	2,751	2,272	1	23	8,218	6,992
General and administrative expenses	778	816	854	(5)	(9)	2,306	2,253
Services (to) / from other business units	306	308	292	(1)	5	915	823
Depreciation of property and equipment	62	58	60	7	3	172	167
Amortization of intangible assets	18	21	16	(14)	13	64	44
Total operating expenses	3,954	3,954	3,494	0	13	11,675	10,279
Business Group performance before tax	2,388	2,341	1,837	2	30	6,973	5,952

KPI
Cost / income ratio (%) ³	62.7	63.3	66.0			63.1	63.8

Capital return and BIS data
Return on allocated regulatory capital (%) ⁴						41.2	38.8
BIS risk-weighted assets	170,048	171,642	156,222	(1)	9
Goodwill and excess intangible assets ⁵	5,892	6,033	5,709	(2)	3
Allocated regulatory capital ⁶	22,897	23,197	21,331	(1)	7

Additional information
Invested assets (CHF billion)	2,332	2,345	2,056	(1)	13
Net new money (CHF billion) ⁷	41.1	36.0	26.4			124.6	94.5
Client assets (CHF billion)	3,616	3,643	3,229	(1)	12
Personnel (full-time equivalents)	50,679	49,554	47,243	2	7
1 In management accounts, adjusted expected credit loss rather than credit loss expense or recovery is reported for the business groups (see note 2 to the financial statements). 2 Additionally includes social security contributions and expenses related to alternative investment awards. 3 Operating expenses / income. 4 Year to date Business Group performance before tax (annualized as applicable) / allocated regulatory capital year to date average. 5 Goodwill and intangible assets in excess of 4% of BIS Tier 1 Capital. 6 10% of BIS risk-weighted assets plus goodwill and excess intangible assets. 7 Excludes interest and dividend income.

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