Item 1: Annual Report, Group and Parent Company Accounts for 2000, Reports of the Group and Parent Company Auditors
The Board of Directors proposes that the report on the financial year 2000 and the Group and Parent Company Accounts for 2000 be approved.
The reports of the Board of Directors and the Group Executive Board are contained in the Financial Report, copies of which can be ordered by shareholders and are also available on the Internet at www.ubs.com/investor-relations. In addition, all registered shareholders automatically receive a copy of our Annual Review, which contains summary infor-mation with regard to our business performance in 2000.
The Group income statement shows total operating income of CHF 36,402 million and total operating expenses of CHF 26,203 million, resulting in pre-tax profit of CHF 10,199 million and consolidated net profit of CHF 7,792 million. Total consolidated assets increased by CHF 191.0 billion to CHF 1,087.6 billion. Shareholders' equity amounted to CHF 44.8 billion at year-end.
Parent company net profit amounted to CHF 7,906 million. With total operating income of CHF 26,302 million and total operating expenses of CHF 15,697 million, operating profit came to CHF 10,605 million. Depreciations, write-offs and provisions amounted to CHF 1,968 million, extraordinary income to CHF 650 million. Extraordinary expenses stood at CHF 20 million and taxes totalled CHF 1,361 million.
Ernst & Young Ltd. recommend in their reports to the Annual General Meeting that the Group and Parent Company Accounts be approved. The Group Auditors confirm that the Group financial statements give a true and fair view of the financial position, the results of operations and the cash flows in accordance with International Accounting Standards (IAS) and comply with the Swiss law".