Income statement

in CHF 1,000	2025	2024	Variance absolute	Variance in %
Interest income¹	230,949	290,341	–59,392	–20.5
of which from interest-bearing securities	36,018	38,822	–2,804	–7.2
of which from trading transactions	0	0	0	n.a.
Interest expense	137,734	207,614	–69,880	–33.7
Net interest income	93,215	82,727	10,488	12.7
Current income from securities	61,384	68,026	–6,642	–9.8
shares and other non-interest-bearing securities	10,493	9,160	1,333	14.6
of which from trading transactions	0	0	0	0.0
participations	2	2	0	–33.7
shares in affiliated companies	50,889	58,864	–7,975	–13.5
Income from commission business and services	84,921	81,926	2,995	3.7
commission income from credit business	690	1,235	–545	–44.2
commission income from securities and investment business	73,311	70,522	2,789	4.0
commission income from other services	10,920	10,169	751	7.4
Commission expenses	15,213	14,455	758	5.3
Net income from commission business and services	69,708	67,471	2,237	3.3
Income from financial transactions¹	28,265	10,259	18,006	175.5
of which from trading transactions	23,537	21,808	1,729	7.9
Other ordinary income	24,919	24,693	226	0.9
income from real estate	143	187	–44	–23.5
other ordinary income	24,776	24,506	270	1.1
Total net operating income	277,491	253,176	24,315	9.6

Operating expenses	184,449	191,189	–6,740	–3.5
personnel expenses	117,692	122,818	–5,126	–4.2
general and administrative expenses	66,757	68,371	–1,614	–2.4
Gross income	93,042	61,987	31,055	50.1

Depreciation and amortisation of intangible assets and property and equipment	22,639	25,450	–2,811	–11.0
Other ordinary expenses	2,695	7,192	–4,497	–62.5
Valuation allowances on receivables and increases in provisions for contingent liabilities and credit risks	2,638	4,413	–1,775	–40.2
Income from release of valuation allowances on receivables and from the release of provisions for contingent liabilities and credit risks	2,976	3,365	–389	–11.6
Write-offs on participations, shares in affiliated companies and securities dealt with as non-current assets	0	0	0	0.0
Gains from appreciations on participations, shares in affiliated companies and securities dealt with as non-current assets	0	0	0	0.0
Income from normal business operations	68,046	28,297	39,749	140.5

Extraordinary income	0	0	0	0.0
Extraordinary expenses	0	0	0	0.0
Taxes on income	505	3	502	n.a.
Other taxes if not included in above items	1,294	1,230	64	5.2
Net income for the year	66,248	27,064	39,184	144.8

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.