Valiant : Interim financial statements as at 31 March 2023

interim

financial statements as at 31 march 2023

• Consolidated financial statements
  Interim financial statements as at 31 March 2023 / 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

Off-balance-sheet transactions

Contingent liabilities

Irrevocable commitments

Obligations to pay up shares and make further contributions

Credit commitments

31/03/2023

in CHF thousands

6,354,679

63,007

1,526,421

27,522,961

14,528

227,907

1,032,063

31,110

242,174

92,531

0

18,409

37,125,790

0

0

2,336,375

22,958,604

23,613

104,800

8,621,300

161,366

388,140

29,730

67,786

7,896

592,596

1,805,385

- 1,493

29,692

2,501,862

37,125,790

0

0

140,577

1,131,471

61,164

0

31/12/2022	Change	Change
in CHF thousands	in CHF thousands	as %
5,053,435	1,301,244	25.7­
49,105	13,902	28.3­
1,542,228	- 15,807	-1.0­
27,137,292	385,669	1.4­
17,542	- 3,014	-17.2­
265,268	- 37,361	-14.1­
1,287,234	- 255,171	-19.8­
26,414	4,696	17.8­
241,366	808	0.3­
94,961	- 2,430	-2.6­
0	0	0.0­
14,983	3,426	22.9­
35,729,828	1,395,962	3.9­
0	0	0.0­
0	0	0.0­
1,754,115	582,260	33.2­
22,473,885	484,719	2.2­
25,369	- 1,756	-6.9­
77,774	27,026	34.7­
8,347,700	273,600	3.3­
141,529	19,837	14.0­
411,185	- 23,045	-5.6­
30,824	- 1,094	-3.5­
59,786	8,000	13.4­
7,896	0	0.0­
592,596	0	0.0­
1,677,655	127,730	7.6­
0	- 1,493	n/a
129,514	- 99,822	n/a
2,467,447	34,415	1.4­
35,729,828	1,395,962	3.9­
0	0	0.0­
0	0	0.0­
142,405	- 1,828	-1.3­
1,268,289	- 136,818	-10.8­
61,164	0	0.0­
0	0	0.0­

1 Before distribution of balance sheet profit

• Consolidated financial statements
  Interim financial statements as at 31 March 2023 / Valiant Holding AG

Consolidated income statement

Result from interest operations

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

31/03/2023		31/03/2022	Change	Change
in CHF thousands		in CHF thousands	in CHF thousands	as %
133,567		82,354	51,213	62.2­
0		0	0	0.0­
1,965		2,944	- 979	-33.3­
- 39,307		408	- 39,715	-9,744.8­
96,225		85,705	10,519	12.3­
- 5,414		- 3,191	- 2,223	69.7­
90,810		82,514	8,296	10.1­
12,337		12,947	- 609	-4.7­
910		908	2	0.2­
9,510		10,946	- 1,436	-13.1­
- 3,851		- 6,199	2,348	-37.9­
18,907		18,602	305	1.6­
10,604		3,686	6,918	187.7­
6		- 2	8	-400.0­
808		2,290	- 1,482	-64.7­
808		2,290	- 1,482	-64.7­
0		0	0	0.0­
377		436	- 59	-13.5­
156		208	- 52	-25.0­
- 21		0	- 21	n/a
1,326		2,932	- 1,606	-54.8­
121,647		107,734	13,913	12.9­
- 38,146		- 36,474	- 1,672	4.6­
- 33,654		- 31,327	- 2,327	7.4­
- 71,801		- 67,801	- 3,999	5.9­
- 5,233		- 5,417	184	-3.4­
- 28		- 192	164	-85.6­
44,586		34,324	10,262	29.9­
2,485		181	2,304	1,272.9­
0		0	0	0.0­
- 8,000		0	- 8,000	n/a
- 9,379		- 6,961	- 2,418	34.7­
29,692		27,544	2,148	7.8­

• Consolidated financial statements
  Interim financial statements as at 31 March 2023 / Valiant Holding AG

Consolidated statement of changes in equity

			Retained	Reserves for
		Capital	earnings	general		Result of the
	Bank's capital	reserve	reserve 1	banking	Own shares	period	Total
	in CHF	in CHF	in CHF	risks in CHF	in CHF	in CHF	in CHF
	thousands	thousands	thousands	thousands	thousands	thousands	thousands
Equity at start of current period	7,896	592,596	1,677,655	59,786		129,514	2,467,447
Appropriation of previous year's profit			129,514			- 129,514	0
Acquisition of own shares					- 1,493		- 1,493
Other allocations to (transfers from) the reserves for general
banking risks				8,000			8,000
Other allocations to (transfers from) the other reserves			- 1,784				- 1,784
Consolidated profit						29,692	29,692
Equity at end of current period	7,896	592,596	1,805,385	67,786	- 1,493	29,692	2,501,862

1 Before distribution of balance sheet profit

• Consolidated financial statements
  Interim financial statements as at 31 March 2023 / 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

Total extraordinary expenses

31/03/2023		31/03/2022
in CHF thousands		in CHF thousands
2,485		0
0		181
2,485		181
0		0