UBS AG
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Quartalsbericht  
     
Quarterly Results at a Glance
Financial Businesses
Industrial Holdings
Capital Management
Financial Statements
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Quarterly Themes
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Financial Businesses' Results
Financial Businesses' Results

Quarter ended% change fromYear ended

CHF million, except where indicated

31.12.04

30.9.04

31.12.03

3Q04

4Q03

31.12.04

31.12.03

 

Operating income

Interest income

10,516

9,967

9,739

6

8

40,182

40,159

Interest expense

(7,232)

(7,004)

(6,732)

3

7

(27,661)

(27,860)

 

Net interest income

3,284

2,963

3,007

11

9

12,521

12,299

Credit loss (expense) / recovery

128

14

(46)

814

276

(72)

 

Net interest income after credit loss expense

3,412

2,977

2,961

15

15

12,797

12,227

 

Net fee and commission income

5,037

4,533

4,820

11

5

19,416

17,345

Net trading income

683

666

578

3

18

4,311

3,756

Other income

35

280

179

(88)

(80)

878

462

 

Total operating income

9,167

8,456

8,538

8

7

37,402

33,790

 

Operating expenses

Personnel expenses

4,328

4,091

4,038

6

7

18,189

17,231

General and administrative expenses

1,709

1,618

1,667

6

3

6,577

6,086

Depreciation of property and equipment

328

329

373

0

(12)

1,282

1,353

Amortization of goodwill and other intangible assets

210

227

225

(7)

(7)

887

943

 

Total operating expenses

6,575

6,265

6,303

5

4

26,935

25,613

 

Operating profit before tax and minority interests

2,592

2,191

2,235

18

16

10,467

8,177

 

Tax expense

535

460

327

16

64

2,086

1,593

 

Net profit before minority interests

2,057

1,731

1,908

19

8

8,381

6,584

 

Minority interests

(64)

(77)

(100)

(17)

(36)

(337)

(345)

 

Net profit

1,993

1,654

1,808

20

10

8,044

6,239

 

Additional informationQuarter ended% change from

As at

31.12.04

30.9.04

31.12.03

3Q04

4Q03

 

Headcount (full-time equivalents)

67,424

66,894

65,929

1

2

 

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