UBS - Corporate Center

Corporate Center reported a pre-tax profit of CHF 136 million in second quarter 2004, compared to a loss of CHF 150 million in first quarter 2004 and a loss of CHF 273 million in second quarter 2003.

Interactive Report

Business Group Reporting

	Quarter ended			% change from		Year to date

CHF million, except where indicated	30.6. 2004	31.3. 2004	30.6. 2003	1Q04	2Q03	30.6. 2004	30.6. 2003


Income	410	299	190	37	116	709	400
Credit loss (expense) / recovery ¹	144	23	62	526	132	167	70


Total operating income	554	322	252	72	120	876	470


Personnel expenses	278	306	319	(9)	(13)	584	600
General and administrative expenses	305	348	375	(12)	(19)	653	646
Services to / from other business units	(391)	(405)	(400)	3	2	(796)	(797)
Depreciation	204	199	206	3	(1)	403	408
Amortization of goodwill and other intangible assets	22	24	25	(8)	(12)	46	51


Total operating expenses	418	472	525	(11)	(20)	890	908


Business Group performance before tax	136	(150)	(273)			(14)	(438)


Business Group performance before tax and amortization of goodwill and other intangible assets	158	(126)	(248)			32	(387)

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