2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

Key figures
2004 2005 Change
CHF m CHF m %
restated
Consolidated income statement
Net interest income
Results from commission
120.8 127.9 5.9
and service fee activities 780.6 1132.8 45.1
Results from trading operations 129.0 148.9 15.4
Other ordinary results 1.8 94.8 -
Operating income 1032.2 1504.4 45.7
Personnel expenses 489.2 839.2 71.5
General expenses 242.0 326.2 34.8
Depreciation, amortization,
valuation adjustments and provisions 43.2 150.3 -30.7
Operating expenses 774.4 1315.7 69.9
Net profit before taxes 257.8 188.7 -26.8
Taxes 49.9 43.9 -12.2
Net profit 207.9 144.8 -30.3
Attributable to:
Shareholders of Julius Baer Holding Ltd. 210.2 146.1 -30.5
Minority interest -2.3 -1.3 42.4
207.9 144.8 -30.3
Return on equity (ROE) 13.9% 5.9% -
Return on equity (ROE) 13.9% 14.8% 1 -
Cost/income ratio 73.7% 2 84.5% 2 -
Cost/income ratio 73.7% 2 71.5% 3 -
Net profit before taxes per business line
Private Banking 111.8 43.0 -61.5
Asset Management 133.5 231.0 73.0
Trading & Sales 73.1 57.0 -22.0
Corporate Center -60.6 -142.3 -134.8
Total 257.8 188.7 -26.8
31.12.2004 31.12.2005 Change
CHF m CHF m %
restated
Consolidated balance sheet
Total assets 16030.0 28648.4 78.7
Total equity 1538.7 6207.3 303.4
Total equity/total assets (equity ratio) 9.6% 21.7% -
BIS ratio Tier 1 17.7% 12.7% -
Asset management
Assets under management (CHF bn) 135.4 304.3 124.8
Personnel
Number of employees (FTE) 1840 3427 86.3
of whom Switzerland 1434 2465 71.9
of whom abroad 406 962 136.9
1 Net profit of the shareholders of Julius Baer Holding Ltd. less the amortization of intangible assets and significant financial
events/average equity less goodwill
2 Excluding valuation adjustments, provisions and losses
3 Excluding valuation adjustments, provisions and losses, amortization of intangible assets and significant financial events