Valiant : Interim financial statements as at 31 March 2024

interim

financial statements as at 31 march 2024

• Consolidated financial statements
  Interim financial statements as at 31 March 2024 / Valiant Holding AG

Consolidated financial statements

Consolidated balance sheet

Assets

Liquid assets

Amounts due from banks

Amounts due from customers

Mortgage loans

Trading portfolio assets

Positive replacement values of derivate financial instruments

Financial investments

Accrued income and prepaid expenses

Non-consolidated participations

Tangible fixed assets

Intangible assets

Other assets

Total assets

Total subordinated claims

of which subject to mandatory conversion and/or debt waiver

Liabilities

Amounts due to banks

Amounts due in respect of customer deposits

Negative replacement values of derivative financial instruments

Cash bonds

Bond issues and central mortgage institution loans

Accrued expenses and deferred income

Other liabilities

Provisions

Reserves for general banking risks

Bank's capital

Capital reserve

Retained earnings reserve1

Own shares

Consolidated profit

Total equity capital

Total liabilities

Total subordinated liabilities

of which subject to mandatory conversion and/or debt waiver

1 Before distribution of balance sheet profit

Off-balance-sheet transactions

Contingent liabilities

Irrevocable commitments

Commitments relating to calls on shares and other equities

Credit commitments

31/03/2024		31/12/2023	Change	Change
in CHF thousands		in CHF thousands	in CHF thousands	as %
4,671,840		4,726,647	- 54,807	-1.2­
63,655		60,629	3,026	5.0­
1,507,897		1,476,507	31,390	2.1­
28,405,924		28,200,436	205,488	0.7­
12,694		14,782	- 2,088	-14.1­
120,014		107,936	12,078	11.2­
1,336,629		1,089,305	247,324	22.7­
49,876		40,094	9,782	24.4­
245,739		244,967	772	0.3­
85,983		86,529	- 546	-0.6­
0		0	0	n/a
26,405		32,593	- 6,188	-19.0­
36,526,656		36,080,425	446,231	1.2­
0		0	0	n/a
0		0	0	n/a
1,682,517		1,480,588	201,929	13.6­
22,021,859		22,024,257	- 2,398	-0.0­
3,953		22,463	- 18,510	-82.4­
237,191		196,220	40,971	20.9­
9,456,400		9,270,300	186,100	2.0­
205,936		171,531	34,405	20.1­
276,810		311,666	- 34,856	-11.2­
23,685		27,887	- 4,202	-15.1­
124,786		109,786	15,000	13.7­
7,896		7,896	0	0.0­
592,582		592,582	0	0.0­
1,863,393		1,720,994	142,399	8.3­
- 2,093		0	- 2,093	n/a
31,741		144,255	- 112,514	n/a
2,618,305		2,575,513	42,792	1.7­
36,526,656		36,080,425	446,231	1.2­
0		0	0	n/a
0		0	0	n/a
31/03/2024	31/12/2023	Change	Change
in CHF thousands		in CHF thousands	in CHF thousands	as %
143,374		144,137	- 763	-0.5­
956,189		960,028	- 3,839	-0.4­
61,164		61,164	0	0.0­
0		0	0	n/a

• Consolidated financial statements
  Interim financial statements as at 31 March 2024 / Valiant Holding AG

Consolidated income statement

Interest income

Interest and discount income

Interest and dividend income from trading portfolios

Interest and dividend income from financial investments

Interest expense

Gross result from interest operations

Changes in value adjustments for default risks and losses from interest operations

Net result from interest operations

Result from commission business and services

Commission income from securities trading and investment activities

Commission income from lending activities

Commission income from other services

Commission expense

Result from commission business and services

Result from trading activities and the fair value option

Other result from ordinary activities

Result from the disposal of financial investments

Income from participations

of which, participations recognised using the equity method

of which, from other non-consolidated participations

Result from real estate

Other ordinary income

Other ordinary expenses

Other result from ordinary activities

Operating income

Operating expenses

Personnel expenses

General and administrative expenses

Operating expenses

Value adjustements on participations and depreciation and amortisation of tangible fixed assets and intangible assets

Changes to provisions and other value adjustments, and losses

Operating result

Consolidated profit

Extraordinary income

Extraordinary expenses

Changes in reserves for general banking risks

Taxes

Consolidated profit

31/03/2024		31/03/2023	Change	Change
in CHF thousands		in CHF thousands	in CHF thousands	as %
174,879		133,567	41,312	30.9­
0		0	0	n/a
2,747		1,965	782	39.8­
- 72,244		- 39,307	- 32,937	83.8­
105,382		96,225	9,157	9.5­
- 4,481		- 5,414	933	-17.2­
100,901		90,810	10,091	11.1­
13,392		12,337	1,055	8.5­
760		910	- 150	-16.5­
11,609		9,510	2,099	22.1­
- 3,535		- 3,851	316	-8.2­
22,226		18,907	3,319	17.6­
11,594		10,604	990	9.3­
21		6	15	250.0­
772		808	- 36	-4.5­
772		808	- 36	-4.5­
0		0	0	n/a
424		377	47	12.5­
108		156	- 48	-30.8­
- 2		- 21	19	-90.5­
1,323		1,326	- 3	-0.2­
136,044		121,647	14,397	11.8­
- 40,168		- 38,146	- 2,022	5.3­
- 33,575		- 33,654	79	-0.2­
- 73,743		- 71,801	- 1,942	2.7­
- 5,326		- 5,233	- 93	1.8­
- 14		- 28	14	-49.3­
56,961		44,586	12,375	27.8­
639		2,485	- 1,846	-74.3­
- 6		0	- 6	n/a
- 15,000		- 8,000	- 7,000	87.5­
- 10,853		- 9,379	- 1,474	15.7­
31,741		29,692	2,049	6.9­

• Consolidated financial statements
  Interim financial statements as at 31 March 2024 / Valiant Holding AG

Consolidated statement of changes in equity

			Retained	Reserves
	Bank's	Capital	earnings	for general		Consolidated
	capital	reserve	reserve1	banking risks	Own shares	profit	Total
	in CHF	in CHF	in CHF	in CHF	in CHF	in CHF	in CHF
	thousands	thousands	thousands	thousands	thousands	thousands	thousands
Equity at start of current period	7,896	592,582	1,720,994	109,786		144,255	2,575,513
Appropriation of previous year's profit			144,255			- 144,255	0
Acquisition of own shares					- 2,093		- 2,093
Other allocations to (transfers from) the reserves
for general banking risks				15,000			15,000
Other allocations to (transfers from) the other reserves			- 1,856				- 1,856
Consolidated profit						31,741	31,741
Equity at end of current period	7,896	592,582	1,863,393	124,786	- 2,093	31,741	2,618,305

1 Before distribution of balance sheet profit

• Consolidated financial statements
  Interim financial statements as at 31 March 2024 / Valiant Holding AG

Condensed notes

Changes to the Group accounting principles as well as any error corrections and their impact on the interim financial statements

There were no changes to the principles of consolidation or corrections of errors.

Information on factors that influenced the economic position of the group during the current period or compared with the previous period

There were no material factors that influenced the group's financial situation during the reporting period or compared with the previous period.

Significant events after the reporting date of the interim financial statements

No extraordinary events have occurred since the balance-sheet date that might have a material influence on the assets, financial position or income situation of Valiant during the reporting period.

Extraordinary income and expenses

Extraordinary income

Gains from the sale of properties

Other items

Total extraordinary income

Extraordinary expenses

Other items

Total extraordinary expenses

31/03/2024	31/03/2023
in CHF thousands		in CHF thousands
509	2,485
130
639		2,485

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