Annual Report 2012 - Bank Sarasin

2.31 Provisions
CHF 000 Restructuring Other business Other provisions
2012
provision
risks
Balance on 01.01. 2,515 500 1,350 4,365
Utilisation in conformity with purpose -2,110 -166 -663 -2,939
New provisions charged to income statement 0 226 1) 2,668 2,894
Provisions released to income statement 0 -50 -237 -287
Recoveries 0 0 0 0
Reclassifications 0 0 0 0
Change in scope of consolidation 0 0 0 0
Currency translation differences 0 0 0 0
Balance on 31.12. 405 510 3,118 4,033
Maturity of provisions
- within 1 year 405 0 2,518 2,923
- over 1 year 0 510 600 1,110
1)
Provisions for risks in connection with retrocessions until 31.12.2012 amounts to CHF 2.5 million.
CHF 000 Restructuring Other business Other provisions
2011
provision
risks
Balance on 01.01. 0 100 1,350 1,450
Utilisation in conformity with purpose 0 0 0 0
New provisions charged to income statement 2) 2,515 400 0 2,915
Provisions released to income statement 0 0 0 0
Recoveries 0 0 0 0
Reclassifications 0 0 0 0
Change in scope of consolidation 0 0 0 0
Currency translation differences 0 0 0 0
Balance on 31.12. 2,515 500 1,350 4,365
Maturity of provisions
- within 1 year 2,515 0 0 2,515
- over 1 year 0 500 1,350 1,850
2)
The provision was made in connection with a restructuring in Private Banking. One-off costs amount to CHF 2,5
million.
Litigation
In the course of its normal business, the Sarasin Group is involved in various types of litigation.
The Bank makes provisions for such contingencies if the Bank and its legal advisors consider that the Group is likely to
have to make payments and if the amount of those payments can be estimated.
All provisions for risks connected with litigation are reported in the Group balance sheet under “other provisions”.
Bank Sarasin & Co. Ltd, Annual Report 2012 | 60