CA Indosuez (Switzerland) SA - 2018 Annual Report

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CA Indosuez (Switzerland) SA

Information on the income statement

5.32. Result from trading activities and the fair value option Breakdown by business area (as per the Bank’s organisational structure)

(in thousands of CHF)

FY 2018

FY 2017

Wealth Management

61,241

59,035

Capital market

8,048

8,007

ITB (International Trade & Transaction Banking)

398

332

Total result from trading activities

69,687

67,374

Trading result (based on underlying risk)

(in thousands of CHF)

FY 2018

FY 2017

Fixed-income instruments

-

-3

Currencies

66,410

64,849

Commodities/precious metals

3,277

2,528

Total result from trading activities - of which from the fair value option

69,687

67,374

– – –

– – –

- of which from the fair value option on assets - of which from the fair value option on liabilities

5.33. Refinancing income and income from negative interest 1) Refinancing income classified under “Interest and discount income” The Bank no longer offsets the refinancing costs of securities trading.

2) Negative interest Negative interest on credit operations is disclosed as a reduction of interest and discount income. Negative interest on deposits is disclosed as a reduction of interest expense.

(in thousands of CHF)

FY 2018

FY 2017

33,107

Negative interest on credit operations (reduction of interest and discount income)

34,055

5,245

Negative interest on deposits (reduction of interest expense)

8,541

5.34. Personnel expenses

(in thousands of CHF)

FY 2018

FY 2017

Salaries (meeting attendance fees and fixed compensation to members of the Bank’s governing bodies, salaries and benefits)

178,061

224,629

34,420

Social security benefits

48,936

7,295

Other personnel expenses

6,442

Total personnel expenses*

219,776

280,007

* The decrease in payroll expenses in 2018 is due to the transfer of former CA-PBS employees to the new company, Azqore SA.