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 in the areas of communication, marketing, human resources, finance, risk and credit management, IT, trading, securities administration and payment services, as well as corporate development and legal and compliance services. In addition, it 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
The LLB Group reports the structural contribution from interest business, the value of interest rate hedging instruments and income from financial investments under the Corporate Center. In comparison with the previous year, operating income fell by CHF 11.9 million to CHF 19.3 million. The decrease was attributable primarily to interest business. On the one hand, due to treasury measures, earnings shifted into trading business. On the other, the higher interest income in the market divisions was also a factor. In contrast, the structural contribution to the Corporate Center decreased. However, income from financial investments was higher. On account of further targeted investments in the ACT-26 strategy, operating expenses climbed, as expected, by 6.7 per cent to CHF 41.4 million.
Segment reporting
|
in CHF thousands |
First half 2023 |
First half 2022 |
+ / – % |
|
Net interest income |
– 43'546 |
2'704 |
|
|
Expected credit losses |
– 14 |
– 18 |
– 25.3 |
|
Net interest income after expected credit losses |
– 43'559 |
2'685 |
|
|
Net fee and commission income |
– 9'112 |
– 7'425 |
22.7 |
|
Net trading income |
63'750 |
30'751 |
107.3 |
|
Net income from financial investments |
6'894 |
– 814 |
|
|
Other income |
1'300 |
5'979 |
– 78.3 |
|
Total operating income |
19'272 |
31'176 |
– 38.2 |
|
Personnel expenses |
– 56'217 |
– 52'121 |
7.9 |
|
General and administrative expenses |
– 37'247 |
– 35'024 |
6.3 |
|
Depreciation |
– 19'938 |
– 17'919 |
11.3 |
|
Services (from) / to segments |
71'978 |
66'234 |
8.7 |
|
Total operating expenses |
– 41'424 |
– 38'829 |
6.7 |
|
Segment profit before tax |
– 22'152 |
– 7'653 |
189.4 |
Additional information
|
|
30.06.2023 |
31.12.2022 |
+ / – % |
|
Employees (full-time equivalents, in positions) |
654 |
622 |
5.0 |