Balance Sheet (unaudited)

Interactive Report

Balance Sheet

				% change from

CHF million	30.6.04	31.3.04	31.12.03	31.12.03


Assets
Cash and balances with central banks	6,543	3,433	3,584	83
Due from banks	38,868	29,830	31,740	22
Cash collateral on securities borrowed	234,006	243,501	213,932	9
Reverse repurchase agreements	362,286	330,560	320,499	13
Trading portfolio assets	355,652	350,190	341,013	4
Trading portfolio assets pledged as collateral	173,224	169,516	120,759	43
Positive replacement values	212,232	258,315	248,206	(14)
Loans	226,594	222,493	212,679	7
Financial investments	5,298	5,438	5,139	3
Accrued income and prepaid expenses	5,997	7,855	6,218	(4)
Investments in associates	1,871	1,718	1,616	16
Property and equipment	7,204	7,554	7,683	(6)
Goodwill and other intangible assets	11,619	11,616	11,529	1
Other assets	32,413	28,014	25,459	27


Total assets	1,673,807	1,670,033	1,550,056	8


Total subordinated assets	*5,199*	5,466	4,794	8


Liabilities
Due to banks	134,284	124,002	127,012	6
Cash collateral on securities lent	59,929	56,142	53,278	12
Repurchase agreements	457,249	429,506	415,863	10
Trading portfolio liabilities	174,417	169,153	143,957	21
Negative replacement values	216,661	272,738	254,768	(15)
Financial liabilities designated at fair value	48,399	39,313	35,286	37
Due to customers	358,078	359,362	346,633	3
Accrued expenses and deferred income	12,570	12,086	13,673	(8)
Debt issued	127,840	127,573	88,843	44
Other liabilities	44,669	37,950	31,360	42


Total liabilities	1,634,096	1,627,825	1,510,673	8


Minority interests	5,031	4,606	4,073	24


Shareholders’ equity
Share capital	900	948	946	(5)
Share premium account	7,159	7,175	6,935	3
Net gains / (losses) not recognized in the income statement, net of tax	(734)	(703)	(983)	25
Retained earnings	33,763	39,064	36,641	(8)
Equity classified as obligation to purchase own shares	(85)	(172)	(49)	(73)
Treasury shares	(6,323)	(8,710)	(8,180)	23


Total shareholders’ equity	34,680	37,602	35,310	(2)


Total liabilities, minority interests and shareholders’ equity	1,673,807	1,670,033	1,550,056	8


Total subordinated liabilities	*8,692*	9,050	9,301	(7)

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