Key Figures(1)

	H1 2007 CHF m	H2 2007 CHF m	H1 2008 CHF m	Change to H1 2007 in %
Consolidated income statement
Net interest income	167.6	155.3	221.1	31.9
Net fee and commission statement	1312.5	1442.2	1195.4	-8.9
Net trading income	138.3	159.9	177.7	28.5
Other ordinary results	16.2	56.9	7.9	-51.2
Operating income	1634.5	1814.5	1602.1	-2.0
Personnel expenses	684.5	724.6	672.8	-1.7
General expenses (2)	254.2	293.6	253.6	-0.2
Depreciation and amortisation	21.1	22.2	23.0	9.0
Operating expenses	959.8	1040.4	949.4	-1.1
Profit before taxes	674.7	774.1	652.7	-3.3
Income taxes	156.7	155.5	142.6	-9.0
Net profit	518.0	618.6	510.1	-1.5
Cost/Income ratio (3)	57.5%	56.0%	58.5%	-
Tax rate	23.2%	20.1%	21.8%	-

 

	30.06.07	31.12.07	30.06.08	Change to 31.12.07 in %
Consolidated balance sheet
Total assets (CHF m)	41727.4	46918.8	43612.9	-7.0
Total equity (CHF m)	6103.0	6418.7	6579.0	2.5
BIS Tier 1 capital (CHF m)	1670.7	1961.3	2273.7	15.9
BIS Tier 1 ratio (4) (CHF m)	12.9%	12.9%	13.8%	-
Return on equity (ROE) (5)	27.9%	37.2 %	28.8%	-
Assets under management
Assets under management  (CHF bn)	405.5	405.1	363.9	-10.2
Net new money (CHF bn)	20.0	15.5	10.3	-
Personnel
Number of employees (FTE)	3869	4099	4272	-

• Key figures and Segment key figures

1 Excluding integration and restructuring expenses as well as the amortisation of intangible assets in connection with the acquisition completed at the end of 2005 (cf. “Origins of Julius Baer” on page 17). Including these positions, the net profit for the first half of 2008 amounted to CHF 412.4 million, after CHF 424.3 million for the first half of 2007.
2 Including valuation adjustments, provisions and losses
3 Operating expenses less valuation adjustments, provisions and losses/operating income
4 According to Basel I as per mid-year as well as year-end 2007 and Basel II as per mid-year 2008
5 Net profit/average equity less goodwill