Corporate Center
Information checkedInformation unaudited Information geprüft Information ungeprüft Corporate Center
The Corporate Center bundles central functions within the LLB Group and supports the market-oriented divisions in conducting their activities and implementing their strategies. The focus lies on functions in the areas of communication, marketing, human resources, finance, risk and credit management, IT, trading, securities administration and payment services, corporate development, as well as legal and compliance services.
The Corporate Center of the LLB Group steers, coordinates and monitors groupwide business activities, processes and risks. It conducts the Group's corporate development and its digital transformation, as well as enhancing the efficiency and quality of the services the LLB Group delivers.
Business segment result
Under the Corporate Center, the LLB Group reports the structural contribution from interest business, the valuation of interest rate hedging instruments and income from financial investments. Operating income rose by CHF 2.3 million to CHF 30.1 million. The increase was mainly attributable to the higher structural contribution in interest business, as well as the increased income from financial investments. In contrast, income from trading decreased as a result of the lower valuation of interest rate hedging instruments measured on the reporting date. Operating expenses increased to CHF 33.9 million. In the previous year, the Segment had benefitted from one-time effects such as the adjustment of the conversion rate for the LLB pension fund and the release of provisions for a legal case.
Segment reporting
|
in CHF thousands |
First half 2021 |
First half 2020 |
+ / – % |
|
Net interest income |
14'853 |
8'385 |
77.1 |
|
Expected credit losses |
0 |
0 |
|
|
Net interest income after expected credit losses |
14'853 |
8'385 |
77.1 |
|
Net fee and commission income |
– 10'903 |
– 6'301 |
73.0 |
|
Net trading income |
19'195 |
27'324 |
– 29.7 |
|
Net income from financial investments |
4'959 |
– 1'905 |
|
|
Other income |
2'008 |
300 |
570.2 |
|
Total operating income |
30'112 |
27'802 |
8.3 |
|
Personnel expenses |
– 43'448 |
– 41'275 |
5.3 |
|
General and administrative expenses |
– 32'172 |
– 28'333 |
13.6 |
|
Depreciation |
– 18'852 |
– 20'798 |
– 9.4 |
|
Services (from) / to segments |
60'620 |
60'356 |
0.4 |
|
Total operating expenses |
– 33'852 |
– 30'050 |
12.6 |
|
Segment profit before tax |
– 3'740 |
– 2'248 |
66.3 |
Additional information
|
|
30.06.2021 |
31.12.2020 |
+ / – % |
|
Employees (full-time equivalents, in positions) |
501 |
517 |
– 3.0 |