Balance sheet

As at 31 December 2011, the consolidated balance sheet total stood at CHF 21.1 billion, corresponding to a year-on-year fall of 4.8 percent. The decrease was due mainly to the reduction in financial investments of CHF 2.8 billion. The decrease in financial investments is, among other things, also associated with the planned sale of a subsidiary company, swisspartners Investment Network AG. In compliance with IFRS, the subsidiary's assets have to be reported in the balance sheet separately under the item «Non-current assets held for sale» (for further information, see note 40). Loans to customers increased by 4.6 percent to CHF 10.3 billion. On the liabilities side, balances due to customers climbed by 5.7 percent to CHF 15.8 billion. As at 31 December 2011, financial liabilities, which are recognized at fair value through profit and loss, are reported fully under the item «Liabilities classified as held for sale».

As at 31 December 2011, equity attributable to the shareholders of LLB AG had declined by 7.9 percent to CHF 1.5 billion. The tier 1 ratio stood at 13.9 percent (31 December 2010: 13.9 %). The return on equity attributable to the shareholders of LLB AG amounted to 0.7 percent at 31 December 2011 (31 December 2010: 6.2 %).

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