Further information

LUKB's segment reporting includes the ‘Private & Commercial Clients’ (P&CC), ‘Corporate Clients’ (CC), ‘Private Banking’ (PB) and ‘Corporate Centre’ (CC) sections. Each customer is allocated to a segment. The first three segments form the sales segments. Proprietary trading is included in the ‘Corporate Centre’. The volumes valid on the reference date provide the basis for the volume calculation.

In the interest business, the segment calculation is based on the market interest rate method, whereby the interest margin contributions are allocated to the sales segments and the structural contribution to the ‘Corporate Centre’. If a segment provides services for another segment, it receives compensation for this as part of the process cost accounting shown under ‘Internal cost allocation’. Due to increased fixed cost blocks, the rates for process costs and internal cost allocation were selectively increased for 2025.

Contrary to the presentation in the ‘Consolidated income statement’, where value adjustments and losses from interest operations for default risks are included in interest income and provisions, other value adjustments and losses are included in the operating income, all value adjustments and provisions are included in operating income in the segment statement under ‘Value adjustments and provisions’. In the sales segments, the expected standard risk costs and not the value adjustments/provisions for credit risks actually recognised are reported under this income item. The difference between the effective result and the sum of the calculated standard risks is shown in the ‘Corporate Centre’ column. A plus-sign indicates that the actual requirement for credit value adjustments and provisions was lower than the calculated sum of the standard risk costs. Other provisions are shifted to the segments as far as possible.

Amortisation including intangible assets (goodwill), any one-off services directly related to an acquisition and extraordinary income are always recognised in the ‘Corporate Centre’.

LUKB classifies all assets that are not held solely for safekeeping and transaction processing as client assets under management . These assets can be recognised under liabilities (‘amounts due in respect of customer deposits’) and shown as securities custody or fiduciary transactions in the off-balance sheet. Assets managed by LUKB form an integral part, even if the custody account is maintained by another bank.

Cash bonds, bonds and central mortgage institution loans reported under liabilities are not included under managed client assets unless they have been subscribed directly by clients of LUKB and are held accordingly in custody accounts.

Traditional transaction accounts, in particular those of legal entities, are also excluded, unless the client asks for additional support activities. The corresponding volumes can fluctuate greatly and amounted to as at 16.796 billions Swiss francs (previous year: 14.834 billions Swiss francs). Client assets under management likewise do not include custody account volumes with no significant income component, assets managed by external asset managers, as well as funds/custody accounts for which LUKB exercises functions similar to a custodian bank.

Client assets under management developed as follows in 2025:

The above figures are calculated without the double counting of the volumes managed by LUKB Expert Fondsleitung AG.