Annual Report 2012 - Bank Sarasin

Consolidated income statement
CHF 000 2012 2011 Change to 2011
Note CHF %
Interest and discount income 176,751 179,236 -2,485 -1.4
Interest and dividend income from financial investments 36,477 43,924 -7,447 -17.0
Interest expenses 72,597 74,278 -1,681 -2.3
Net interest income 2.1 140,631 148,882 -8,251 -5.5
Commission income on lending activities 4,223 6,359 -2,136 -33.6
Commission income on securities and investment transactions 439,404 468,235 -28,831 -6.2
Commission income on other services 24,113 37,114 -13,001 -35.0
Commission expenses 58,394 71,024 -12,630 -17.8
Results from commission and service fee activities 2.2 409,346 440,684 -31,338 -7.1
Results from trading operations 2.3 93,172 93,803 -631 -0.7
Other ordinary results 2.4 21,033 2,836 18,197 641.6
of which income from investments in associates 460 -1,530 1,990 130.1
Operating income 664,182 686,205 -22,023 -3.2
Personnel expenses 2.5 394,743 387,125 7,618 2.0
General administrative expenses 2.6 140,599 140,747 -148 -0.1
Operating expenses 535,342 527,872 7,470 1.4
Operating profit 128,840 158,333 -29,493 -18.6
Depreciation and write-offs on property and equipment 2.7 17,928 18,408 -480 -2.6
Amortisation of intangible assets 2.7 21,107 26,534 -5,427 -20.5
Value adjustments, provisions and losses 2.8 66,543 11,149 55,394 496.9
Provisions for restructuring 2.8 0 629 -629 -100.0
Profit before taxes 23,262 101,613 -78,351 -77.1
Taxes 2.9 431 9,144 -8,713 -95.3
Group result 22,831 92,469 -69,638 -75.3
Attributable to:
Shareholders of Bank Sarasin & Co. Ltd 14,494 83,864 -69,370 -82.7
Minority interests 8,337 8,605 -268 -3.1
Group result 22,831 92,469 -69,638 -75.3
Share information (CHF)
Result per class A registered share (with voting rights) 1) 0.05 0.27 -0.22 -81.5
Result per class B registered share 1) 0.23 1.35 -1.12 -83.0
Diluted result per class A registered share 1) 0.05 0.27 -0.22 -81.5
Diluted result per class B registered share 1) 0.23 1.35 -1.12 -83.0
Dividend per class A registered share (with voting rights) 2) 0.00 0.00 0.00
Dividend per class B registered share 2) 0.00 0.00 0.00
1) Calculation based on the weighted shares according to IFRS.
2) Subject to approval of the Annual General Meeting.
Bank Sarasin & Co. Ltd, Annual Report 2012 | 7