as at December 31, 2003 - EFG Bank Group

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12 Consolidated Statement of Income for the year ended December 31, 2003 (All figures in thousands of CHF) Note 2003 2002 Interest and discount income 6 2’586’591 2’466’318 Interest expense 6 (1’263’103) (1’368’830) Net interest income 1’323’488 1’097’488 Fee and commission income 953’378 635’824 Fee and commission expense (327’447) (173’034) Net fee and commission income 625’931 462’790 Dividend income 7 15’747 11’454 Net trading (loss)/income 8 (15’899) 7’571 Gains less losses from other securities 9 (1’074) 53’667 Other operating income 27 & 28 44’814 69’627 43’588 142’319 Operating income 1’993’007 1’702’597 Operating expenses 10 (1’383’998) (1’109’429) Impairment losses on loans and advances 21 (226’868) (141’757) Profit from operations 382’141 451’411 Share of results of associates before tax 26 5’675 8’293 Profit before tax 387’816 459’704 Income tax expense 12 (139’801) (139’431) Net profit after tax attributable to shareholders 248’015 320’273 Of which minority interests 175’248 199’124 The notes on pages 16 to 56 form an integral part of these financial statements. EFG Bank Group
Consolidated Balance Sheet at December 31, 2003 Assets (All figures in thousands of CHF) Note Dec. 31, 2003 Dec. 31, 2002 Cash and balances with central banks 14 1’878’650 1’532’762 Treasury bills and other eligible bills 16 602’390 1’041’269 Due from other banks 17 3’510’409 3’391’329 Trading securities 18 4’774’004 4’739’209 Derivative financial instruments 19 429’545 311’911 Loans and advances to customers 20 28’228’584 21’371’681 Available-for-sale investment securities 23 8’467’916 5’642’065 Other investment securities 24 - 185’819 Investments in associated undertakings 26 20’179 140’693 Property, plant and equipment 27 1’164’003 1’142’006 Intangible assets 28 318’716 252’977 Other assets 29 1’607’190 1’416’011 Total assets 51’001’586 41’167’732 Of which subordinated receivables 515 202 Liabilities Due to other banks 30 9’482’408 6’648’469 Derivative financial instruments 19 807’589 883’228 Due to customers 31 31’160’670 27’770’682 Liabilities evidenced by paper 32 4’478’382 1’568’508 Other liabilities 33 1’339’446 1’059’895 Total liabilities 47’268’495 37’930’782 Shareholders’ equity Share capital 35 250’000 250’000 Reserve from retained earnings and for general banking risks 385’133 343’453 Reserve attributable to a related trust 984’928 800’713 Minority interests 2’113’030 1’842’784 Total shareholders’ equity 3’733’091 3’236’950 Total liabilities and shareholders’ equity 51’001’586 41’167’732 Of which payable to significant shareholders 29’536 31’103 The financial statements on pages 12 to 56 were approved for publication and for submission to the General Meeting of the Shareholders by the Board of Directors on April 29, 2004. The notes on pages 16 to 56 form an integral part of these financial statements. Annual Report 2003 Group 13
Page 1: Annual Report 2003
Page 4 and 5: Contents 3 Consolidated financial h
Page 6 and 7: 4 Report of the Board of Directors
Page 8 and 9: 6 Report of the Board of Directors
Page 10 and 11: 8 EFG Bank Group’s Activities The
Page 12 and 13: 10 EFG Bank Group’s Activities (c
Page 16 and 17: 14 Consolidated Statement of Change
Page 18 and 19: 16 Notes to the Consolidated Financ
Page 60 and 61: 58 Principal Offices (continued) Pr
Page 62 and 63: 60 Principal Offices (continued) Pr
Page 64 and 65:
Contents 64 Review of Parent Bank a
Page 66 and 67:
64 Review of Parent Bank Activities
Page 68 and 69:
66 Statement of Income for the year
Page 70 and 71:
68 Off Balance Sheet Positions at D
Page 72 and 73:
70 Notes to the Financial Statement
Page 74 and 75:
Page 76 and 77:
Page 78:
76 Board of Directors and Advisory
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as at December 31, 2003 - EFG Bank Group

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