Corporate Center

Interactive Report

Business Group Reporting

	Quarter ended			% change from		Year to date

CHF million, except where indicated	30.9. 2003	30.6. 2003	30.9. 2002	2Q03	3Q02	30.9. 2003	30.9. 2002


Income	239	282	517	(15)	(54)	722	1,955¹
Credit loss (expense) / recovery ²	66	118	7	(44)	843	176	130


Total operating income	305	400	524	(24)	(42)	898	2,085


Personnel expenses	170	220	245	(23)	(31)	576	797
General and administrative expenses	40	176	204	(77)	(80)	273	513
Depreciation	112	104	120	8	(7)	330	379
Amortization of goodwill and other intangible assets	23	25	29	(8)	(21)	74	89


Total operating expenses	345	525	598	(34)	(42)	1,253	1,778


Business Group performance before tax	(40)	(125)	(74)	68	46	(355)	307


Business Group Reporting excluding significant financial events
Total operating income	305	400	524	(24)	(42)	898	1,930 ³
Total operating expenses	345	525	598	(34)	(42)	1,253	1,778


Business Group performance before tax	(40)	(125)	(74)	68	46	(355)	152


Business Group performance before tax and amortization of goodwill and other intangible assets	(17)	(100)	(45)	83	62	(281)	241
Private Banks & GAM
Performance before tax	63	43	46	47	37	162	150 ³
Performance before tax and amortization of goodwill and other intangible assets	83	63	68	32	22	223	220 ³


Invested assets (CHF billion)	80	76	70	5	14
Net new money (CHF billion) ⁴	2.4	1.2	0.9			4.2	3.3


Headcount (full-time equivalents)	1,657	1,673	1,719	(1)	(4)

Additional Information				% change from

As at	30.9. 2003	30.6. 2003	30.9. 2002	2Q03	3Q02


Regulatory equity allocated (average)	9,650	9,500	10,150	2	(5)
Total headcount (full-time equivalents)	2,766	2,836	2,925	(2)	(5)

1 Includes significant financial event: gain on disposal of Hyposwiss of CHF 155 million.
2 In order to show the relevant Business Group performance over time, adjusted expected loss figures rather than the net IFRS actual credit loss expenses are reported for all Business Groups. The difference between the adjusted expected loss figures and the net IFRS actual credit loss expense recorded at Group level is reported in the Corporate Center (see Note 2 to the Financial Statements).
3 Excludes significant financial event: gain on disposal of Hyposwiss of CHF 155 million.
4 Excludes interest and dividend income.

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