CA Indosuez (Switzerland) SA - 2018 Annual Report

79

2018 annual financial statements

5.35. General and administrative expenses

(in thousands of CHF)

FY 2018

FY 2017

Office space expenses

12,797

17,636

Expenses for information and communications technology*

71,542

57,299

Expenses for vehicles, equipment, furniture and other fixtures, as well as operating lease expenses

1,044

462

Fees of audit firm(s) (article 961a no. 2 Swiss CO)

2,248

2,343

of which for financial and regulatory audits

2,302

2,148

of which for other services

41

100

General and administrative expenses

36,730

59,359

Total general and administrative expenses

124,362

137,099

* Some 2017 expenses were reclassified to comply with the presentation adopted in 2018.

5.36. Material losses, extraordinary income and expenses, material releases of hidden reserves, reserves for general banking risks, and value adjustments and provisions no longer required Material losses There was no material loss recorded in 2018.

Extraordinary income During the reporting period, the Bank did not record any significant extraordinary income.

Extraordinary expenses During the reporting period, the Bank did not record any significant extraordinary expenses.

Material releases of hidden reserves No material hidden reserves were released in the course of the financial year.

Reserves for general banking risks The “Change in reserves for general banking risks” was nil during the reporting period.