2 Changes in accounting and valuation principles
In the 2025 financial year, LUKB made the following changes to the accounting and valuation principles (see also the corresponding section in the Notes to the consolidated financial statements):
- Starting in the 2025 financial year, provisions for inherent default risks on off-balance-sheet items (contingent liabilities) will now be recognised. For further details, see Section 4 ‘Methods used for identifying default risks and determining the need for value adjustments and provisions’.
- Positive and negative replacement values of derivative financial instruments and cash collaterals for each counterparty deposited in this context are now also offset against each other in the balance sheet, provided that recognised and legally enforceable netting agreements exist. The previous year's figures have been restated as follows for comparison purposes:
Change | ||||||||
Amounts in 1,000 Swiss francs | 31.12.2024 previously | 31.12.2024 new | absolute | in % | ||||
Assets | ||||||||
Amounts due from banks | 383,289 | 345,908 | – 37,381 | – 9.8 | ||||
Loans to customers | 43,402,869 | 43,374,016 | – 28,853 | – 0.1 | ||||
Amounts due from clients | 5,167,446 | 5,138,593 | – 28,853 | – 0.6 | ||||
Positive replacement values of derivative financial instruments | 416,540 | 174,381 | – 242,159 | – 58.1 | ||||
Total assets | 59,463,272 | 59,154,879 | – 308,393 | – 0.5 | ||||
Liabilities | ||||||||
Amounts due to banks | 4,120,147 | 4,102,377 | – 17,770 | – 0.4 | ||||
Amounts due in respect of customer deposits | 29,134,134 | 29,134,012 | – 122 | – 0.0 | ||||
Negative replacement values of derivative financial instruments | 480,946 | 190,445 | – 290,501 | – 60.4 | ||||
Total liabilities | 59,463,272 | 59,154,879 | – 308,393 | – 0.5 | ||||
- From the 2025 financial year onwards, brokerage commissions for loans paid to brokers and platforms are no longer recognised in the commission and service business, but rather are offset directly against the corresponding interest income. In the 2024 financial year, the corresponding commission expenses amounted to 1.0 million Swiss francs.
- In addition, the dedicated reserves for general banking risks were combined with the reserves for general banking risks not intended for a specific purpose as at 31 December 2025. Accordingly, the total amount of the reserves for general banking risks is now without purpose-specific allocation.