2011 AnnuAl RepoRt - Valiant Bank

inCome StAtement VAliAnt holDinG AG
Net interest income
2011
in CHF 1 000
2010
in CHF 1 000
interest and discount income 56 118
interest and dividends from financial investments 2 736 6 821
interest expense – 1 903 – 1 303
Subtotal net interest income 889 5 636
Net commission and fee income
Commission expense – 176 – 393
Subtotal net commission and fee income – 176 – 393
Other ordinary income
income from sale of financial investments – 11 743 4 507
income from participating interests 106 400 103 400
other ordinary income 22 822 24 449
other ordinary expense – 9 529 – 61 672
Subtotal other ordinary income 107 950 70 684
Operating expenses
personnel expenses – 15 078 – 16 603
other operating expenses – 6 597 – 5 912
Subtotal operating expenses – 21 675 – 22 515
Gross profit 86 988 53 412
Net profit for the year
Gross profit 86 988 53 412
Depreciation of capital assets – 554 – 269
Value adjustments, provisions and losses 0 0
Result before extraordinary items and taxes 86 434 53 143
extraordinary income 17 26
extraordinary expenses 1) – 35 593 0
taxes – 233 – 271
Net profit for the year 50 625 52 898
1) loss realized on holdings of treasury shares assumed by Valiant bank AG as of January 1, 2011.
17