Menu

Download Center

Home

12 Loans and Receivables

In CHF million
        Gross carrying amount   Allowance for impairment losses   Carrying amount
    Notes   31.12.2021   31.12.2020   31.12.2021   31.12.2020   31.12.2021   31.12.2020
                             
                             
Mortgages       12 000   11 555   –23   –21   11 977   11 534
Note loans       4 465   5 028       4 465   5 028
Corporate and other loans       2 502   1 793   –1   –2   2 501   1 791
Debt securities previously classified as available for sale       726   727       726   727
Other debt securities classified as loans       151   146       151   146
Total loans   30    19 845   19 248   –24   –23   19 821   19 226
                             
                             
Insurance receivables       1 612   1 351   –27   –29   1 585   1 322
Reinsurance receivables       433   346       433   346
Accrued investment income       1 048   1 116       1 048   1 116
Settlement accounts       73   48       73   48
Other receivables       1 307   1 307   –8   –8   1 299   1 299
Total receivables   30    4 474   4 168   –35   –37   4 439   4 131
                             
Total loans and receivables       24 319   23 416   –59   –60   24 260   23 357

Allowance for impairment losses

In CHF million
    Individual evaluation of impairment   Collective evaluation of impairment   Total
    2021   2020   2021   2020   2021   2020
                         
Loans
Balance as at 1 January   2   4   20   17   23   22
Impairment losses/reversals   0   –2   2   3   2   1
Write-offs and disposals   –1   0       –1   0
Foreign currency translation differences   0   0       0   0
Balance as at end of period   1   2   23   20   24   23
                         
Receivables
Balance as at 1 January   29   16   8   12   37   28
Impairment losses/reversals   6   21   –6   –4   0   17
Write-offs and disposals   –3   –8   3   0   0   –8
Foreign currency translation differences   –1   0   0   0   –1   0
Balance as at end of period   31   29   5   8   35   37
                         
Total allowance for impairment losses   32   31   27   29   59   60

Interest income accrued on impaired loans was CHF 0.01 million as at 31 December 2021 (2020: CHF 0.04 million). The Group’s loan port­folio is monitored closely through the review of information such as debt service, annual reports and assessments. This information is evaluated in light of current economic conditions and other factors, such as diversification of the property portfolio. This evaluation is part of the regular review to determine whether the allowance for potential loan losses is warranted. Management believes that the allowance for loan losses is sufficient. However, management cannot predict with assurance the impact of future economic circumstances or how the mortgage and real estate portfolios would be affected by various economic circumstances.

As at 1 July 2008, certain financial assets were reclassified from financial assets available for sale to loans and receivables due to the disappearance of an active market. The financial assets reclassified primarily consist of corporate debt instruments and debt instruments relating to emerging markets.

Details with regard to the financial assets reclassified are as follows.

Debt securities previously classified as available for sale

In CHF million
    2021   2020
Carrying amount as at 31 December   726   727
Fair value as at end of period   1 002   1 041
Gains (+)/losses (–) that would have been recognised in other comprehensive income if the assets had not been reclassified (before policyholder participation and income tax effect)   –36   –5
Gains (+)/losses (–) recognised in profit or loss (including impairment)   0   46
Interest income   49   55