Business segment result
The LLB Group reports the structural contribution from interest business, the valuation of interest rate hedging instruments and income from financial investments under the Corporate Center. Operating income rose by CHF 16.1 million to CHF 45.3 million. The increase was attributable to accounting gains made with financial investments measured at fair value on the reporting date. Furthermore, the valuation of interest rate hedging instruments measured on the reporting date resulted in higher trading income. General and administrative expenses were lower than in the previous year, which led to lower operating expenses. The LLB Group invests on average around CHF 35 million in IT and infrastructure projects.
Business segment result: Corporate Center
| Download |
in CHF thousands |
2019 |
2018 |
+/− % |
|||
|---|---|---|---|---|---|---|
Net interest income |
–3'496 |
11'543 |
|
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Expected credit losses |
0 |
175 |
–100.0 |
|||
Net interest income after expected credit losses |
–3'496 |
11'718 |
|
|||
Net fee and commission income |
–10'818 |
–9'040 |
19.7 |
|||
Net trading income |
49'376 |
42'767 |
15.5 |
|||
Net income from financial investments |
4'049 |
–19'396 |
|
|||
Share of net income of associates and joint venture |
–3 |
–3 |
0.9 |
|||
Other income |
6'167 |
3'100 |
99.0 |
|||
Total operating income |
45'275 |
29'146 |
55.3 |
|||
Personnel expenses |
–94'274 |
–87'554 |
7.7 |
|||
General and administrative expenses |
–75'332 |
–81'097 |
–7.1 |
|||
Depreciation and amortisation |
–41'413 |
–32'575 |
27.1 |
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Services (from) / to segments |
119'626 |
102'045 |
17.2 |
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Total operating expenses |
–91'394 |
–99'181 |
–7.9 |
|||
Segment profit before tax |
–46'119 |
–70'035 |
–34.1 |
| Download |
|
31.12.2019 |
31.12.2018 |
+/− % |
|||
|---|---|---|---|---|---|---|
Employees (full-time equivalents, in positions) |
539 |
529 |
1.8 |