Service-oriented - Die Schweizerische Post

110 Annual Report | Financial Report | Financial statements of Swiss Post Group
Notes to the income statement
6 Net income from financial services
By presenting net income from financial services in the following format, Swiss Post takes account of
the character of these financial services. Net income is broken down into individual items in line with banking
practice.
2006 2005
CHF m
Interest income
Interest income on amounts due from banks 45 20
Interest income on securities lending and reverse­repurchase transactions 104 48
Interest income on interest­bearing amounts due from customers 9 9
Interest and dividend income on FVTPL1 : held for trading 0 –
Interest and dividend income on financial assets
Interest expense
724 726
Interest expense for customer deposits – 255 – 175
Interest expense for amounts due to banks – 6 0
Interest expense on repurchase transactions – 2 – 2
Net interest income 619 626
Writedowns of financial assets – 9 29
Losses on payment transactions 0 2 – 6
Net interest income after writedowns 610 649
Commission income on lending business 46 23
Commission income on securities and investment business 21 15
Commission income on other services 18 18
Commission expenses – 48 – 30
Income from services 471 485
Net services and commission income 508 511
Net trading income 91 80
Gain/loss on the sale of available­for­sale financial assets 5 11
Other net financial income/expense – 11 – 10
Net income from financial services 1 203 1 241
Shown in the consolidated income statement under:
Income from financial services 1 576 1 504
Expenses for financial services – 373 – 263
1 FVTPL: Fair value through profit or loss (fair value changes are taken to the income statement).
2 Incl. release of provisions for doubtful receivables from international payments.