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 2006, 31 December 2005 and 31 December 2004 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.
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 2006, 2005 and 2004.
31.12.06 | 31.12.05 | 31.12.04 | |||||||
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 | 10,800 | 587 | 5.4 | 15,467 | 270 | 1.7 | 12,463 | 154 | 1.2 |
Foreign | 29,814 | 1,490 | 5.0 | 25,497 | 1,334 | 5.2 | 23,843 | 397 | 1.7 |
Cash collateral on securities borrowed and reverse repurchase agreements | |||||||||
Domestic | 27,147 | 1,333 | 4.9 | 33,012 | 1,079 | 3.3 | 17,969 | 457 | 2.5 |
Foreign | 926,575 | 38,393 | 4.1 | 776,972 | 22,283 | 2.9 | 701,817 | 10,242 | 1.5 |
Trading portfolio assets | |||||||||
Domestic | 17,976 | 651 | 3.6 | 15,545 | 457 | 2.9 | 10,122 | 336 | 3.3 |
Foreign taxable | 707,432 | 31,433 | 4.4 | 580,763 | 23,619 | 4.1 | 513,922 | 18,908 | 3.7 |
Foreign non-taxable | 4,438 | 127 | 2.9 | 3,390 | 58 | 1.7 | 2,309 | 27 | 1.2 |
Foreign total | 711,870 | 31,560 | 4.4 | 584,153 | 23,677 | 4.1 | 516,231 | 18,935 | 3.7 |
Financial assets designated at fair value | |||||||||
Domestic | 42 | 0 | 616 | 0 | 196 | 0 | |||
Foreign | 2,325 | 70 | 3.0 | 691 | 26 | 3.8 | 0 | 0 | |
Loans | |||||||||
Domestic | 181,186 | 5,784 | 3.2 | 174,299 | 5,424 | 3.1 | 168,456 | 5,308 | 3.2 |
Foreign | 106,491 | 6,284 | 5.9 | 91,290 | 3,531 | 3.9 | 68,393 | 2,126 | 3.1 |
Financial investments available-for-sale | |||||||||
Domestic | 4,126 | 28 | 0.7 | 1,036 | 3 | 0.3 | 1,132 | 17 | 1.5 |
Foreign taxable | 3,171 | 100 | 3.2 | 3,546 | 83 | 2.3 | 3,000 | 21 | 0.7 |
Foreign non-taxable | 0 | 0 | 0 | 0 | 0 | 0 | |||
Foreign total | 3,171 | 100 | 3.2 | 3,546 | 83 | 2.3 | 3,000 | 21 | 0.7 |
Total interest-earning assets | 2,021,523 | 86,280 | 4.3 | 1,722,124 | 58,167 | 3.4 | 1,523,622 | 37,993 | 2.5 |
Net interest on swaps | 1,121 | 1,119 | 1,235 | ||||||
Interest income and average interest-earning assets | 2,021,523 | 87,401 | 4.3 | 1,722,124 | 59,286 | 3.4 | 1,523,622 | 39,228 | 2.6 |
Non-interest-earning assets | |||||||||
Positive replacement values | 320,596 | 319,698 | 246,952 | ||||||
Fixed assets | 7,445 | 9,308 | 8,808 | ||||||
Other | 66,362 | 55,178 | 53,140 | ||||||
Total average assets | 2,415,926 | 2,106,308 | 1,832,522 | ||||||
Liabilities and Equity | |||||||||
Due to banks | |||||||||
Domestic | 46,544 | 1,583 | 3.4 | 35,713 | 897 | 2.5 | 31,129 | 385 | 1.2 |
Foreign | 108,885 | 5,261 | 4.8 | 92,431 | 3,321 | 3.6 | 96,335 | 1,582 | 1.6 |
Cash collateral on securities lent and repurchase agreements | |||||||||
Domestic | 46,224 | 1,589 | 3.4 | 40,772 | 881 | 2.2 | 33,846 | 489 | 1.4 |
Foreign | 751,617 | 32,432 | 4.3 | 647,998 | 19,599 | 3.0 | 606,623 | 9,417 | 1.6 |
Trading portfolio liabilities | |||||||||
Domestic | 4,408 | 283 | 6.4 | 3,632 | 145 | 4.0 | 3,717 | 180 | 4.8 |
Foreign | 202,263 | 14,250 | 7.0 | 173,394 | 10,591 | 6.1 | 161,286 | 7,813 | 4.8 |
Financial liabilities designated at fair value | |||||||||
Domestic | 1,864 | 58 | 3.1 | 638 | 5 | 0.8 | 85 | 1 | 1.2 |
Foreign | 127,458 | 4,699 | 3.7 | 86,688 | 2,385 | 2.8 | 49,234 | 1,167 | 2.4 |
Due to customers | |||||||||
Domestic demand deposits | 70,981 | 534 | 0.8 | 67,987 | 292 | 0.4 | 67,005 | 167 | 0.2 |
Domestic savings deposits | 86,631 | 392 | 0.5 | 86,373 | 404 | 0.5 | 84,112 | 414 | 0.5 |
Domestic time deposits | 28,876 | 639 | 2.2 | 24,245 | 386 | 1.6 | 19,052 | 250 | 1.3 |
Domestic total | 186,488 | 1,565 | 0.8 | 178,605 | 1,082 | 0.6 | 170,169 | 831 | 0.5 |
Foreign 1 | 315,917 | 11,500 | 3.6 | 249,561 | 5,906 | 2.4 | 200,664 | 2,785 | 1.4 |
Short-term debt | |||||||||
Domestic | 1,973 | 115 | 5.8 | 1,584 | 20 | 1.3 | 246 | 0 | |
Foreign | 110,418 | 4,939 | 4.4 | 96,767 | 2,905 | 3.0 | 79,902 | 1,338 | 1.7 |
Long-term debt | |||||||||
Domestic | 3,957 | 82 | 2.1 | 4,250 | 117 | 2.8 | 10,358 | 168 | 1.6 |
Foreign | 57,899 | 2,524 | 4.4 | 43,035 | 1,904 | 4.4 | 28,259 | 1,328 | 4.7 |
Total interest-bearing liabilities | 1,965,915 | 80,880 | 4.1 | 1,655,068 | 49,758 | 3.0 | 1,471,853 | 27,484 | 1.9 |
Non-interest-bearing liabilities | |||||||||
Negative replacement values | 320,766 | 335,992 | 260,629 | ||||||
Other | 76,270 | 70,654 | 60,844 | ||||||
Total liabilities | 2,362,951 | 2,061,714 | 1,793,326 | ||||||
Total equity | 52,975 | 44,594 | 39,196 | ||||||
Total average liabilities and equity | 2,415,926 | 2,106,308 | 1,832,522 | ||||||
Net interest income | 6,521 | 9,528 | 11,744 | ||||||
Net yield on interest-earning assets | 0.3 | 0.6 | 0.8 | ||||||
The percentage of total average interest-earning assets attributable to foreign activities was 88% for 2006 (86% for 2005 and 86% for 2004). The percentage of total average interest-bearing liabilities attributable to foreign activities was 85% for 2006 (84% for 2005 and 83% for 2004). 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.
The following tables allocate, by categories of interest-earning assets and interest-bearing liabilities, the changes in interest income and expense due to changes in volume and interest rates for the year ended 31 December 2006 compared with the year ended 31 December 2005, and for the year ended 31 December 2005 compared with the year ended 31 December 2004. Volume and rate variances have been calculated on movements in average balances and changes in interest rates. Changes due to a combination of volume and rates have been allocated proportionally. Refer to page 245 of Industry Guide 3 for a discussion of the treatment of impaired, non-performing and restructured loans.
2006 compared with 2005 | 2005 compared with 2004 | |||||||
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 | (79) | 396 | 317 | 36 | 80 | 116 | ||
Foreign | 224 | (68) | 156 | 28 | 909 | 937 | ||
Cash collateral on securities borrowed and reverse repurchase agreements | ||||||||
Domestic | (194) | 448 | 254 | 376 | 246 | 622 | ||
Foreign | 4,338 | 11,772 | 16,110 | 1,127 | 10,914 | 12,041 | ||
Trading portfolio assets | ||||||||
Domestic | 70 | 124 | 194 | 179 | (58) | 121 | ||
Foreign taxable | 5,193 | 2,621 | 7,814 | 2,473 | 2,238 | 4,711 | ||
Foreign non-taxable | 18 | 51 | 69 | 13 | 18 | 31 | ||
Foreign total | 5,211 | 2,672 | 7,883 | 2,486 | 2,256 | 4,742 | ||
Financial assets designated at fair value | ||||||||
Domestic | 0 | 0 | 0 | 0 | 0 | 0 | ||
Foreign | 62 | (18) | 44 | 26 | 0 | 26 | ||
Loans | ||||||||
Domestic | 213 | 147 | 360 | 187 | (71) | 116 | ||
Foreign | 593 | 2,160 | 2,753 | 710 | 695 | 1,405 | ||
Financial investments | ||||||||
Domestic | 9 | 16 | 25 | (1) | (13) | (14) | ||
Foreign taxable | (9) | 26 | 17 | 4 | 58 | 62 | ||
Foreign non-taxable | 0 | 0 | 0 | 0 | 0 | 0 | ||
Foreign total | (9) | 26 | 17 | 4 | 58 | 62 | ||
Interest income | ||||||||
Domestic | 19 | 1,131 | 1,150 | 777 | 184 | 961 | ||
Foreign | 10,419 | 16,544 | 26,963 | 4,381 | 14,832 | 19,213 | ||
Total interest income from interest-earning assets | 10,438 | 17,675 | 28,113 | 5,158 | 15,016 | 20,174 | ||
Net interest on swaps | 2 | (116) | ||||||
Total interest income | 28,115 | 20,058 | ||||||
Interest expense on interest-bearing liabilities | ||||||||
Due to banks | ||||||||
Domestic | 271 | 415 | 686 | 55 | 457 | 512 | ||
Foreign | 592 | 1,348 | 1,940 | (62) | 1,801 | 1,739 | ||
Cash collateral on securities lent and repurchase agreements | ||||||||
Domestic | 120 | 588 | 708 | 97 | 295 | 392 | ||
Foreign | 3,109 | 9,724 | 12,833 | 662 | 9,520 | 10,182 | ||
Trading portfolio liabilities | ||||||||
Domestic | 31 | 107 | 138 | (4) | (31) | (35) | ||
Foreign | 1,761 | 1,898 | 3,659 | 581 | 2,197 | 2,778 | ||
Financial liabilities designated at fair value | ||||||||
Domestic | 10 | 43 | 53 | 7 | (3) | 4 | ||
Foreign | 1,142 | 1,172 | 2,314 | 899 | 319 | 1,218 | ||
Due to customers | ||||||||
Domestic demand deposits | 12 | 230 | 242 | 2 | 123 | 125 | ||
Domestic savings deposits | 1 | (13) | (12) | 11 | (21) | (10) | ||
Domestic time deposits | 74 | 179 | 253 | 68 | 68 | 136 | ||
Domestic total | 87 | 396 | 483 | 81 | 170 | 251 | ||
Foreign | 1,593 | 4,001 | 5,594 | 685 | 2,436 | 3,121 | ||
Short-term debt | ||||||||
Domestic | 5 | 90 | 95 | 20 | 0 | 20 | ||
Foreign | 410 | 1,624 | 2,034 | 287 | 1,280 | 1,567 | ||
Long-term debt | ||||||||
Domestic | (8) | (27) | (35) | (98) | 47 | (51) | ||
Foreign | 654 | (34) | 620 | 694 | (118) | 576 | ||
Interest expense | ||||||||
Domestic | 516 | 1,612 | 2,128 | 158 | 935 | 1,093 | ||
Foreign | 9,261 | 19,733 | 28,994 | 3,746 | 17,435 | 21,181 | ||
Total interest expense | 9,777 | 21,345 | 31,122 | 3,904 | 18,370 | 22,274 | ||
Deposits
The following table analyzes average deposits and the average rates on each deposit category listed below for the years ended 31 December 2006, 2005 and 2004. The geographic allocation is based on the location of the office or branch where the deposit is made. Deposits by foreign depositors in domestic offices were CHF 78,234 million, CHF 54,968 million and CHF 49,699 million at 31 December 2006, 31 December 2005 and 31 December 2004, respectively.
31.12.06 | 31.12.05 | 31.12.04 | ||||
CHF million, except where indicated | Average deposit | Average rate (%) | Average deposit | Average rate (%) | Average deposit | Average rate (%) |
Banks | ||||||
Domestic offices | ||||||
Demand deposits | 2,024 | 0.2 | 8,491 | 0.1 | 7,770 | 0.1 |
Time deposits | 8,776 | 4.5 | 6,976 | 3.3 | 4,693 | 1.7 |
Total domestic offices | 10,800 | 3.7 | 15,467 | 1.5 | 12,463 | 0.7 |
Foreign offices | ||||||
Interest-bearing deposits 1 | 29,814 | 4.8 | 25,497 | 3.6 | 23,843 | 1.6 |
Total due to banks | 40,614 | 4.5 | 40,964 | 2.8 | 36,306 | 1.3 |
Customer accounts | ||||||
Domestic offices | ||||||
Demand deposits | 70,981 | 0.8 | 67,987 | 0.4 | 67,005 | 0.2 |
Savings deposits | 86,631 | 0.5 | 86,373 | 0.5 | 84,112 | 0.5 |
Time deposits | 28,876 | 2.2 | 24,245 | 1.6 | 19,052 | 1.3 |
Total domestic offices | 186,488 | 0.8 | 178,605 | 0.6 | 170,169 | 0.5 |
Foreign offices | ||||||
Interest-bearing deposits 1 | 315,917 | 3.6 | 249,561 | 2.4 | 200,664 | 1.4 |
Total due to customers | 502,405 | 2.6 | 428,166 | 1.6 | 370,833 | 1.0 |
At 31 December 2006, the maturity of time deposits exceeding CHF 150,000, or an equivalent amount in other currencies, was as follows: | ||||||
CHF million | Domestic | Foreign | ||||
Within 3 months | 45,236 | 256,610 | ||||
3 to 6 months | 5,676 | 4,253 | ||||
6 to 12 months | 2,764 | 2,224 | ||||
1 to 5 years | 310 | 5,134 | ||||
Over 5 years | 254 | 90 | ||||
Total time deposits | 54,240 | 268,311 | ||||
The following table presents the period-end, average and maximum month-end outstanding amounts for short-term borrowings, along with the average rates and period-end rates at and for the years ended 31 December 2006, 2005 and 2004.
Money market paper issued | Due to banks | Repurchase agreements 1 | |||||||
CHF million, except where indicated | 31.12.06 | 31.12.05 | 31.12.04 | 31.12.06 | 31.12.05 | 31.12.04 | 31.12.06 | 31.12.05 | 31.12.04 |
Period-end balance | |||||||||