Selected Statistical Information
The tables below set forth selected statistical information regarding the Group’s banking operations extracted from the Financial Statements. Unless otherwise indicated, average balances for the years ended 31 December 2005, 31 December 2004 and 31 December 2003 are calculated from monthly data. The distinction between domestic and foreign is generally based on the booking location. For loans, this method is not significantly different from an analysis based on the domicile of the borrower.
Average Balances and Interest Rates | |||||||||
The following table sets forth average interest-earning assets and average interest-bearing liabilities, along with the average rates, for the years ended 31 December 2005, 2004 and 2003. | |||||||||
31.12.05 | 31.12.04 | 31.12.03 | |||||||
CHF million, except where indicated | Average balance | Interest | Average rate (%) | Average balance | Interest | Average rate (%) | Average balance | Interest | Average rate (%) |
Assets | |||||||||
Due from banks | |||||||||
Domestic | 15,467 | 270 | 1.7 | 12,463 | 154 | 1.2 | 11,417 | 158 | 1.4 |
Foreign | 25,497 | 1,334 | 5.2 | 23,843 | 397 | 1.7 | 21,317 | 1,064 | 5.0 |
Cash collateral on securities borrowed and | |||||||||
reverse repurchase agreements | |||||||||
Domestic | 33,012 | 1,079 | 3.3 | 17,969 | 457 | 2.5 | 6,576 | 200 | 3.0 |
Foreign | 787,389 | 22,562 | 2.9 | 710,065 | 10,549 | 1.5 | 582,066 | 10,948 | 1.9 |
Trading portfolio assets | |||||||||
Domestic | 15,545 | 457 | 2.9 | 10,122 | 336 | 3.3 | 7,990 | 219 | 2.7 |
Foreign taxable | 580,763 | 23,630 | 4.1 | 513,922 | 18,914 | 3.7 | 421,413 | 18,151 | 4.3 |
Foreign non-taxable | 3,390 | 58 | 1.7 | 2,309 | 27 | 1.2 | 1,668 | 21 | 1.3 |
Foreign total | 584,153 | 23,688 | 4.1 | 516,231 | 18,941 | 3.7 | 423,081 | 18,172 | 4.3 |
Financial assets designated at fair value | |||||||||
Domestic | 616 | 0 | 196 | 0 | 0 | 0 | |||
Foreign | 691 | 26 | 3.8 | 0 | 0 | 0 | 0 | ||
Loans | |||||||||
Domestic | 174,299 | 5,424 | 3.1 | 168,456 | 5,308 | 3.2 | 165,397 | 6,357 | 3.8 |
Foreign | 81,264 | 3,241 | 4.0 | 60,145 | 1,813 | 3.0 | 51,459 | 1,805 | 3.5 |
Financial investments | |||||||||
Domestic | 1,036 | 3 | 0.3 | 1,132 | 17 | 1.5 | 1,988 | 27 | 1.4 |
Foreign taxable | 3,546 | 83 | 2.3 | 3,000 | 21 | 0.7 | 2,880 | 30 | 1.0 |
Foreign non-taxable | 0 | 0 | 0.0 | 0 | 0 | 0.0 | |||
Foreign total | 3,546 | 83 | 2.3 | 3,000 | 21 | 0.7 | 2,880 | 30 | 1.0 |
Total interest-earning assets | 1,722,515 | 58,167 | 3.4 | 1,523,622 | 37,993 | 2.5 | 1,274,171 | 38,980 | 3.1 |
Net interest on swaps | 1,119 | 1,235 | 1,065 | ||||||
Interest income and average | |||||||||
interest-earning assets | 1,722,515 | 59,286 | 3.4 | 1,523,622 | 39,228 | 2.6 | 1,274,171 | 40,045 | 3.1 |
Non-interest-earning assets | |||||||||
Positive replacement values | 319,698 | 246,952 | 249,155 | ||||||
Fixed assets | 9,308 | 8,808 | 12,874 | ||||||
Other | 55,125 | 53,087 | 29,750 | ||||||
Total average assets | 2,106,646 | 1,832,469 | 1,565,950 | ||||||
31.12.05 | 31.12.04 | 31.12.03 | |||||||
CHF million, except where indicated | Average | Interest | Average | Average balance | Interest | Average rate (%) | Average balance | Interest | Average rate (%) |
Liabilities and Equity | |||||||||
Due to banks | |||||||||
Domestic | 35,713 | 897 | 2.5 | 31,129 | 385 | 1.2 | 28,719 | 116 | 0.4 |
Foreign | 92,431 | 3,321 | 3.6 | 96,335 | 1,582 | 1.6 | 74,695 | 1,747 | 2.3 |
Cash collateral on securities | |||||||||
lent and repurchase agreements | |||||||||
Domestic | 40,772 | 881 | 2.2 | 33,846 | 489 | 1.4 | 23,287 | 295 | 1.3 |
Foreign | 661,722 | 19,745 | 3.0 | 614,295 | 9,525 | 1.6 | 515,665 | 9,328 | 1.8 |
Trading portfolio liabilities | |||||||||
Domestic | 3,632 | 145 | 4.0 | 3,717 | 180 | 4.8 | 3,252 | 156 | 4.8 |
Foreign | 173,394 | 10,591 | 6.1 | 161,286 | 7,813 | 4.8 | 127,104 | 9,769 | 7.7 |
Financial liabilities designated at fair value | |||||||||
Domestic | 638 | 5 | 0.8 | 85 | 1 | 1.2 | 0 | 0 | |
Foreign | 86,688 | 2,385 | 2.8 | 49,234 | 1,167 | 2.4 | 22,445 | 751 | 3.3 |
Due to customers | |||||||||
Domestic demand deposits | 67,987 | 292 | 0.4 | 67,005 | 167 | 0.2 | 55,496 | 100 | 0.2 |
Domestic savings deposits | 86,373 | 404 | 0.5 | 84,112 | 414 | 0.5 | 81,963 | 527 | 0.6 |
Domestic time deposits | 24,245 | 386 | 1.6 | 19,052 | 250 | 1.3 | 21,125 | 357 | 1.7 |
Domestic total | 178,605 | 1,082 | 0.6 | 170,169 | 831 | 0.5 | 158,584 | 984 | 0.6 |
Foreign 1 | 236,228 | 5,760 | 2.4 | 192,992 | 2,677 | 1.4 | 161,738 | 2,149 | 1.3 |
Short-term debt | |||||||||
Domestic | 1,584 | 20 | 1.3 | 246 | 0 | 64 | 0 | 0.0 | |
Foreign | 96,767 | 2,905 | 3.0 | 79,902 | 1,338 | 1.7 | 73,193 | 1,015 | 1.4 |
Long-term debt | |||||||||
Domestic | 4,250 | 117 | 2.8 | 10,358 | 168 | 1.6 | 6,413 | 188 | 2.9 |
Foreign | 43,035 | 1,904 | 4.4 | 28,259 | 1,328 | 4.7 | 30,805 | 1,286 | 4.2 |
Total interest-bearing liabilities | 1,655,459 | 49,758 | 3.0 | 1,471,853 | 27,484 | 1.9 | 1,225,964 | 27,784 | 2.3 |
Non-interest-bearing liabilities | |||||||||
Negative replacement values | 335,992 | 260,629 | 254,819 | ||||||
Other | 70,292 | 60,482 | 46,025 | ||||||
Total liabilities | 2,061,743 | 1,792,964 | 1,526,808 | ||||||
Equity attributable to UBS shareholders | 44,903 | 39,505 | 39,142 | ||||||
Total average liabilities and equity | 2,106,646 | 1,832,469 | 1,565,950 | ||||||
attributable to UBS shareholders | |||||||||
Net interest income | 9,528 | 11,744 | 12,261 | ||||||
Net yield on interest-earning assets | 0.6 | 0.8 | 1.0 |
The percentage of total average interest-earning assets attributable to foreign activities was 86% for 2005 (86% for 2004 and 85% for 2003). The percentage of total average interest-bearing liabilities attributable to foreign activities was 84% for 2005 (83% for 2004 and 82% for 2003). All assets and liabilities are translated into CHF at uniform month-end rates. Interest income and expense are translated at monthly average rates.
Average rates earned and paid on assets and liabilities can change from period to period based on the changes in interest rates in general, but are also affected by changes in the currency mix included in the assets and liabilities. This is especially true for foreign assets and liabilities. Tax-exempt income is not recorded on a tax-equivalent basis. For all three years presented, tax-exempt income is considered to be insignificant and the impact from such income is therefore negligible.
Analysis of Changes in Interest Income and Expense | ||||||
2005 compared with 2004 | 2004 compared with 2003 | |||||
Increase / (decrease) | Increase / (decrease) | |||||
CHF million | Average volume | Average rate | Net change | Average volume | Average rate | Net change |
Interest income from interest-earning assets | ||||||
Due from banks | ||||||
Domestic | 36 | 80 | 116 | 15 | (19) | (4) |
Foreign | 28 | 909 | 937 | 126 | (793) | (667) |
Cash collateral on securities borrowed and reverse repurchase agreements | ||||||
Domestic | 376 | 246 | 622 | 342 | (85) | 257 |
Foreign | 1,160 | 10,853 | 12,013 | 2,432 | (2,831) | (399) |
Trading portfolio assets | ||||||
Domestic | 179 | (58) | 121 | 58 | 59 | 117 |
Foreign taxable | 2,473 | 2,243 | 4,716 | 3,978 | (3,215) | 763 |
Foreign non-taxable | 13 | 18 | 31 | 8 | (2) | 6 |
Foreign total | 2,486 | 2,261 | 4,747 | 3,986 | (3,217) | 769 |
Financial assets designated at fair value | ||||||
Domestic | 0 | 0 | 0 | 0 | 0 | 0 |
Foreign | 26 | 0 | 26 | 0 | 0 | 0 |
Loans | ||||||
Domestic | 187 | (71) | 116 | 116 | (1,165) | (1,049) |
Foreign | 634 | 794 | 1,428 | 304 | (296) | 8 |
Financial investments | ||||||
Domestic | (1) | (13) | (14) | (12) | 2 | (10) |
Foreign taxable | 4 | 58 | 62 | 1 | (10) | (9) |
Foreign non-taxable | 0 | 0 | 0 | 0 | 0 | 0 |
Foreign total | 4 | 58 | 62 | 1 | (10) | (9) |
Interest income | ||||||
Domestic | 777 | 184 | 961 | 519 | (1,208) | (689) |
Foreign | 4,338 | 14,875 | 19,213 | 6,849 | (7,147) | (298) |
Total interest income from interest-earning assets | 5,115 | 15,059 | 20,174 | 7,368 | (8,355) | (987) |
Net interest on swaps | (116) | 170 | ||||
Total interest income | 20,058 | (817) | ||||
Interest expense on interest-bearing liabilities | ||||||
Due to banks | ||||||
Domestic | 55 | 457 | 512 | 10 | 259 | 269 |
Foreign | (62) | 1,801 | 1,739 | 498 | (663) | (165) |
Cash collateral on securities lent and repurchase agreements | ||||||
Domestic | 97 | 295 | 392 | 137 | 57 | 194 |
Foreign | 759 | 9,461 | 10,220 | 1,775 | (1,578) | 197 |
Trading portfolio liabilities | ||||||
Domestic | (4) | (31) | (35) | 22 | 2 | 24 |
Foreign | 581 | 2,197 | 2,778 | 2,632 | (4,588) | (1,956) |
Financial liabilities designated at fair value | ||||||
Domestic | 7 | (3) | 4 | 0 | 1 | 1 |
Foreign | 899 | 319 | 1,218 | 884 | (468) | 416 |
Due to customers | ||||||
Domestic demand deposits | 2 | 123 | 125 | 23 | 44 | 67 |
Domestic savings deposits | 11 | (21) | (10) | 13 | (126) | (113) |
Domestic time deposits | 68 | 68 | 136 | (35) | (72) | |