Consolidated income statement

in CHF 1,000	Note	2025	2024	Variance absolute	Variance in %
Interest income from financial instruments at amortised cost		181,941	262,445	–80,504	–30.7
Other interest income¹		95,212	94,382	830	0.9
Interest expense using the effective interest method		132,623	204,071	–71,448	–35.0
Total net interest income¹	1 / 32	144,530	152,756	–8,226	–5.4
Commission income		162,752	158,970	3,782	2.4
Commission expenses		21,111	21,881	–770	–3.5
Total net income from commission business and services	2	141,641	137,089	4,552	3.3
Income from trading activities¹	3	34,930	30,859	4,071	13.2
Income from financial instruments	4	11,292	5,068	6,224	122.8
Other income	5	4,924	4,762	162	3.4
Total operating income		337,317	330,534	6,783	2.1

Personnel expenses	6	172,831	183,334	–10,503	–5.7
General and administrative expenses	7	77,714	85,548	–7,834	–9.2
Depreciation of property, equipment and intangible assets	8	29,177	36,958	–7,781	–21.1
Credit loss expenses	9	–167	724	–891	–123.1
Provisions and losses	9	1,253	1,702	–449	–26.4
Operating expenses		280,808	308,266	–27,458	–8.9

Earnings before income tax		56,509	22,268	34,241	153.8

Taxes on income	10a	9,490	3,797	5,693	149.9
Group net income		47,019	18,471	28,548	154.6


Share information
Undiluted group net income per registered share A	11	7.55	2.98
Undiluted group net income per registered share B	11	0.75	0.30

Diluted group net income per registered share A	11	7.51	2.97
Diluted group net income per registered share B	11	0.75	0.30

1Changes to presentation (note 1, 3 and principles underlying financial statement reporting) and restatement of prior-year figures.