On an adjusted basis, the second-quarter profit before tax was CHF1.02bn ($1.09bn) against CHF1.9bn ($2.04bn) during the prior quarter.
Operating income declined by CHF386m ($415m), primarily due to lower net interest and trading income, while operating expenses increased by CHF42m ($45m), largely due to result of higher general and administrative expenses.
Wealth management’s profit before tax stood at CHF557m ($599m) compared to CHF664m ($714m), while adjusted profit before tax decreased by CHF83m ($89m) to CHF607m ($652m), compared to the first quarter of current fiscal.
Wealth Management Americas’ profit before tax was $258m against $251m, while adjusted for restructuring charges, profit before tax increased by $7m to $269m from $262m during the prior quarter. Operating income was $1.8bn compared to $1.7bn in the prior quarter.
The Investment Bank recorded a profit before tax of CHF775m ($833m) against CHF977m ($1.05bn), while adjusted profit before tax stood at CHF806m ($866.7m) compared to CHF928m ($998m) during the prior quarter.
Global Asset Management’s profit before tax was CHF138m ($148m) compared to CHF190m ($204m) in the prior quarter.
The phase-in BIS Basel III common equity tier 1 (CET1) ratio was 16.2% as of 30 June 2013, an increase of 0.9% points from 31 March 2013.
