Annual Report 2012 - Bank Sarasin

2.8 Value adjustments, provisions and losses
CHF 000 2012 2011 Change to 2011
CHF %
Value adjustments for default risk 1) 62,219 5,483 56,736 > 1,000
Provisions for litigation risk 150 0 150
Losses, operational risk 1,430 5,265 -3,835 -72.8
Provisions for restructuring 0 629 -629 -100.0
Other 2) 2,744 401 2,343 584.3
Total value adjustments, provisions and losses 66,543 11,778 54,765 465.0
1)
Of which CHF 38.1 million relates to impairments in amounts due from customers.
2)
Following a ruling delivered on 30 October 2012 by the Swiss Supreme Court concerning the payment of
retrocessions and portfolio management fees, Bank Sarasin & Co. Ltd has performed a detailed risk analysis and
on this basis has set aside a provision amounting to CHF 2.5 million. No legal claims for the surrender of
retrocessions have been filed up to the reporting date.
Bank Sarasin & Co. Ltd, Annual Report 2012 | 33