Pre-tax profit decreased by 74% to CHF222m for Q3 16 compared to Q3 15 and was up by 12% compared to Q2 16. Net revenues were down by 10% to CHF5.4bn for Q3 16 compared to Q3 15. Total operating expenses were up by 2% to CHF5.1bn for Q3 16 compared to the same period last year. The tax ratio was a high 83% in Q3 16, compared to around 10% for Q3 15 and Q2 16 each due to non-tax deductable litigation provisions of CHF306m in Q3 16. The net profit attributable to shareholders declined therefore
03 Nov 2016
Q3 net profit down by 95% yoy but a profit
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Q3 net profit down by 95% yoy but a profit
- Published:
03 Nov 2016 -
Author:
Dieter Hein -
Pages:
3
Pre-tax profit decreased by 74% to CHF222m for Q3 16 compared to Q3 15 and was up by 12% compared to Q2 16. Net revenues were down by 10% to CHF5.4bn for Q3 16 compared to Q3 15. Total operating expenses were up by 2% to CHF5.1bn for Q3 16 compared to the same period last year. The tax ratio was a high 83% in Q3 16, compared to around 10% for Q3 15 and Q2 16 each due to non-tax deductable litigation provisions of CHF306m in Q3 16. The net profit attributable to shareholders declined therefore