- Cembra
- Reporting
- Corporate Governance
- Compensation Report
- Financial Statements
For the years ended 31 December (CHF in thousands) | Notes | 2017 | 2016 |
Interest income | 21 | 308,305 | 324,257 |
Interest expense | 22 | – 24,706 | – 26,511 |
Net interest income | | 283,599 | 297,746 |
Commission and fee income | 23 | 112,744 | 96,260 |
Net revenues | | 396,344 | 394,006 |
Provision for losses on financing receivables | 4 | – 45,089 | – 44,557 |
Compensation and benefits | – 99,930 | – 100,398 | |
General and administrative expenses | 24 | – 68,017 | – 67,140 |
Total operating expenses | | – 167,947 | – 167,538 |
Income before income taxes | | 183,308 | 181,910 |
Income tax expense | 16 | – 38,816 | – 38,204 |
Net income | | 144,492 | 143,707 |
Earnings per share | |||
Basic | 15 | 5.13 | 5.10 |
Diluted | 15 | 5.12 | 5.09 |
See accompanying Notes to the Consolidated Financial Statements.
At 31 December (CHF in thousands) | Notes | 2017 | 2016 |
Assets | |||
Cash and cash equivalents | 418,422 | 668,948 | |
Financing receivables, net | 4 | 4,561,500 | 4,072,617 |
Investment securities | 5 | 11,754 | 11,961 |
Property, plant and equipment, net | 6 | 5,819 | 4,912 |
Intangible assets, net | 7 | 26,403 | 23,379 |
Goodwill | 8 | 14,508 | – |
Other assets | 9 | 57,788 | 67,161 |
Deferred income taxes | 16 | 3,175 | 8,119 |
Total assets 1 | | 5,099,369 | 4,857,097 |
Liabilities and equity | | | |
Deposits | 10 | 2,626,786 | 2,354,569 |
Accrued expenses and other payables | 144,473 | 91,967 | |
Short-term debt | 11 | 100,000 | 449,894 |
Long-term debt | 11 | 1,321,370 | 1,069,868 |
Other liabilities | 13 | 21,278 | 42,601 |
Total liabilities 1 | | 4,213,908 | 4,008,899 |
Common shares | 30,000 | 30,000 | |
Additional paid in capital (APIC) | 294,544 | 390,931 | |
Treasury shares | – 101,004 | – 100,385 | |
Retained earnings | 677,451 | 561,154 | |
Accumulated other comprehensive loss (AOCI) | – 15,530 | – 33,501 | |
Total shareholders’ equity | | 885,460 | 848,198 |
Total liabilities and shareholders’ equity | | 5,099,369 | 4,857,097 |
1 The Group’s consolidated assets as at 31 December 2017 and 31 December 2016, include total assets of 535,446 and TCHF 487,550, respectively, of consolidated variable interest entities (VIEs) that can only be used to settle the liabilities of the VIEs. The Group’s consolidated liabilities as at 31 December 2017 and 31 December 2016 include liabilities of the VIEs of 398,866 and TCHF 398,238, respectively, for which the VIE creditors do not have recourse to Cembra Money Bank AG.
See accompanying Notes to the Consolidated Financial Statements.