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	Note 1 Summary of Significant Accounting Policies

	Note 2

	Note 3 Net Interest and Trading Income

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	Note 5 Other Income

	Note 6 Personnel Expenses

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	Note 8 Earnings per Share (EPS) and Shares Outstanding

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	A - Introduction

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	D - Information Required by Industry Guide 3

UBS Homepage > Analysts & Investors > Rapports annuels 2006 > Financial Report > Global Wealth Management & Business Banking

Global Wealth Management & Business Banking


Marcel Rohner \| Chairman and CEO Global Wealth Management & Business Banking

GPre-tax profit for our international and Swiss wealth management businesses was CHF 5,203 million, up 25% from the result achieved in 2005. In the US, pre-tax profit rose to CHF 582 million from CHF 312 million a year earlier. Business Banking Switzerland's pre-tax profit was CHF 2,356 million, up 8% from 2005.

Business Group reporting

	As of or for the year ended			% change from
CHF million, except where indicated	31.12.06	31.12.05	31.12.04	31.12.05
Income	21,775	19,131	17,506	14
Adjusted expected credit loss ¹	156	107	(38)	46
Total operating income	21,931	19,238	17,468	14
Cash components	9,043	8,252	7,630	10
Share-based components ²	306	237	235	29
Total personnel expenses	9,349	8,489	7,865	10
General and administrative expenses	3,028	2,845	2,473	6
Services (to) / from other business units	1,118	960	1,137	16
Depreciation of property and equipment	232	226	202	3
Amortization of goodwill	0	0	238
Amortization of intangible assets	63	56	115	13
Total operating expenses	13,790	12,576	12,030	10
Business Group performance before tax	8,141	6,662	5,438	22

KPIs
Cost / income ratio (%) ³	63.3	65.7	68.7

Capital return and BIS data
Return on allocated regulatory capital (%) ⁴	39.3	34.7	31.3
BIS risk-weighted assets	155,158	147,348	134,004	5
Goodwill and excess intangible assets ⁵	5,978	5,407	3,648	11
Allocated regulatory capital ⁶	21,494	20,142	17,048	7

Additional information
Invested assets (CHF billion)	2,123	1,887	1,524	13
Net new money (CHF billion)	114.5	98.5	63.0
Client assets (CHF billion)	3,337	2,895	2,306	15
Personnel (full-time equivalents)	48,034	44,612	42,570	8
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 Business Group performance before tax / average allocated regulatory capital. 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.

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