Business Banking Switzerland

	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


Interest income	850	857	899	(1)	(5)	1,707	1,800
Non-interest income	428	414	477	3	(10)	842	867


Income	1,278	1,271	1,376	1	(7)	2,549	2,667
Adjusted expected credit loss ¹	(6)	(15)	(41)	60	85	(21)	(96)


Total operating income	1,272	1,256	1,335	1	(5)	2,528	2,571


Personnel expenses	594	607	619	(2)	(4)	1,201	1,232
General and administrative expenses	268	250	276	7	(3)	518	556
Services to / from other business units	(115)	(126)	(162)	9	29	(241)	(341)
Depreciation	17	15	23	13	(26)	32	46
Amortization of goodwill and other intangible assets	0	0	0			0	0


Total operating expenses	764	746	756	2	1	1,510	1,493


Business unit performance before tax	508	510	579	0	(12)	1,018	1,078


Business unit performance before tax and amortization of goodwill and other intangible assets	508	510	579	0	(12)	1,018	1,078
KPIs
Invested assets (CHF billion)	139	139	132	0	5
Net new money (CHF billion) ²	1.0	1.0	0.6			2.0	2.3


Cost / income ratio (%) ³	59.8	58.7	54.9			59.2	56.0
Cost / income ratio before goodwill (%) ⁴	59.8	58.7	54.9			59.2	56.0


Non-performing loans /gross loans (%)	2.8	3.0	3.2
Impaired loans /gross loans (%)	3.8	4.2	5.0

Additional Information				% change from		Year to date

As at or for the period ended	30.6. 2004	31.3. 2004	30.6. 2003	1Q04	2Q03	30.6. 2004	30.6. 2003


Deferral (included in adjusted expected credit loss)	102	103	88	(1)	16	205	165
Client assets (CHF billion)	653	642	545	2	20
Regulatory equity allocated (average)	6,450	6,350	6,200	2	4
Headcount (full-time equivalents)	15,939	16,102	16,546	(1)	(4)