Annual Report 2011 - Hong Kong Monetary Authority
Annual Report 2011 - Hong Kong Monetary Authority
Annual Report 2011 - Hong Kong Monetary Authority
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Consolidated profi t and loss account<br />
for the year ended 31 December <strong>2011</strong> (in thousands of CHF)<br />
72 <strong>2011</strong> ANNUAL REPORT - BANQUE PRIVÉE EDMOND DE ROTHSCHILD SA<br />
Notes <strong>2011</strong> 2010 Change<br />
(in CHF ‘000) (in %)<br />
Interest and discount income 29 70,565 54,253 16,312 30.1<br />
Interest and dividend income on trading portfolios 29 120 401 (281) (70.1)<br />
Interest and dividend income on financial investments 29 4,731 5,070 (339) (6.7)<br />
Interest payable 30 10,574 5,462 5,112 93.6<br />
Interest income, net 64,842 54,262 10,580 19.5<br />
Commission income on lending activities 1,365 1,630 (265) (16.3)<br />
Commission income on securities and investment transactions 31 556,675 571,652 (14,977) (2.6)<br />
Commission income on other services 32 70,486 76,047 (5,561) (7.3)<br />
Commissions payable 124,368 114,731 9,637 8.4<br />
Fee and commission income, net 504,158 534,598 (30,440) (5.7)<br />
Results of trading operations 33 87,851 95,816 (7,965) (8.3)<br />
Proceeds from the sale of financial investments 4,927 11 4,916 n/a<br />
Income from holdings 21,989 22,834 (845) (3.7)<br />
of which: - holdings reported using the equity method 14,635 17,364 (2,729) (15.7)<br />
- other non-consolidated holdings 7,354 5,470 1,884 34.4<br />
Real estate income 1,835 1,206 629 52.2<br />
Other ordinary income 34 15,064 15,479 (415) (2.7)<br />
Other ordinary expenses 1,530 473 1,057 223.5<br />
Other ordinary results 42,285 39,057 3,228 8.3<br />
Total operating income 699,136 723,733 (24,597) (3.4)<br />
Personnel expenses 35 356,982 372,205 (15,223) (4.1)<br />
Other operating expenses 36 134,449 127,815 6,634 5.2<br />
Total operating expenses 491,431 500,020 (8,589) (1.7)<br />
Gross profit 207,705 223,713 (16,008) (7.2)<br />
Depreciation of fixed assets 8,37 36,038 34,697 1,341 3.9<br />
Valuation adjustments, provisions and losses 38 6,137 10,212 (4,075) (39.9)<br />
Result before extraordinary items and taxes 165,530 178,804 (13,274) (7.4)<br />
Extraordinary income 39 12,275 40,747 (28,472) (69.9)<br />
Extraordinary expenses 39 23,047 42,184 (19,137) (45.4)<br />
Taxes 40 29,694 27,469 2,225 8.1<br />
Consolidated net income 41, 42, 43 125,064 149,898 (24,834) (16.6)<br />
of which: - minority interests’ share in consolidated net income 8,800 14,123 (5,323) (37.7)
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