Properties, which are wholly owned by individual Group companies and are available for immediate sale, encompass bank branches in use and rental apartments, as well as unused real estate. In the 2019 business year, two properties were sold at a profit of CHF 1.5 million; the carrying value amounted to CHF 2.2 million. For other properties offers have been received, or sales discussions have taken place. In addition, two properties, which were classified as available for sale, were not sold. Since the criteria for a continued IFRS 5 classification were not fulfilled, these will again be recognised according to the guidelines of IAS 16 “Property, Plant and Equipment”.
Furthermore, a company, which manages rental apartments, which is not wholly owned is also designated for immediate sale.
The net balance sheet value amounts to CHF 16.7 million.