Financial Report

Income statement

CHF in millions	2023	2022	Change in %
Interest income	422.1	385.6	9
Interest expense	–74.9	–29.4	>100
Net interest income	347.2	356.2	–3
Commission and fee income	168.5	152.7	10
Net revenues	515.7	508.9	1
Provision for losses on financing receivables	–56.9	–40.9	39
Compensation and benefits	–137.0	–135.5	1
General and administrative expenses	–125.6	–122.0	3
Total operating expenses	–262.6	–257.5	2
Income before income taxes	196.2	210.5	–7
Income tax expense	–38.1	–41.2	–7
Net income	158.1	169.3	–7
Basic earnings per share (in CHF)	5.39	5.77

At 31 December, CHF in millions	2023	2022	Change in %
Assets
Cash and cash equivalents	922	633	46
Financing receivables, net	6,687	6,520	3
All other assets	479	471	2
Total assets	8,088	7,624	6
Liabilities and equity
Deposits	3,497	3,513	0
Short-term & long-term debt	3,098	2,613	19
All other liabilities	244	223	9
Total liabilities	6,838	6,349	8
Common shares	30	30	0
Additional paid-in capital (APIC)	259	258	0
Treasury shares	–37	–37	0
Retained earnings	988	1,010	–1
Accumulated other comprehensive income (loss) (AOCI)	1	13	–96
Total shareholders’ equity	1,250	1,274	–2
Total liabilities and shareholders’ equity	8,088	7,624	6