Income and expense analysed by permanent establishment

in CHF 1,000

2025

2024

Domestic

Foreign

Domestic

Foreign

Interest income1

212,465

40,836

270,242

47,952

Interest expenses

130,271

29,488

198,500

36,956

Current income from securities

61,384

68,026

Income from commission business and services

73,190

11,892

71,808

10,278

Commission expenses

12,323

3,054

11,899

2,718

Income from financial transactions1

24,809

3,663

6,185

4,122

Other ordinary income

30,041

30,468

Operating expenses

169,328

20,457

171,631

25,199

Other ordinary expenses

2,667

13

7,174

18

1The forward component of forward transactions will be recognized in interest income from fiscal year 2025 onwards (previously recognized in income from financial transactions). The previous year's figures have been adjusted accordingly to improve comparability.

The breakdown between domestic and foreign is based on the domicile of the reporting branches.

The values listed under “Foreign” refer to VP Bank Ltd Singapore Branch in Singapore (business activity: bank). Adjusted to reflect full-time equivalents, this unit employed 62 persons as at 31 December 2025 (31 December 2024: 70 persons). On a consolidated basis, total operating income in the 2025 financial year amounts to the equivalent of CHF 3.488 million (previous year: CHF 7.934 million) and earnings before tax to CHF -11.834 million (previous year: CHF -12.138 million). The unit received the equivalent of CHF 0.016 million in government subsidies in the 2025 financial year (previous year: CHF 0.041 million).