11 Investments in Associates
Summarised financial information for the year 2025
| Amounts in CHF million | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ownership interest | Carrying amount | Dividends received | Share of profit or loss | Share of other comprehensive income | Share of total comprehensive income | |||||||
|
Equity method associates
|
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| Crédit et Services Financiers (CRESERFI), Paris | 33.4% | 40 | 0 | 0 | – | 0 | ||||||
| ZSC Lions Arena Immo AG, Zürich | 34.3% | 22 | – | – | – | – | ||||||
| Other associates | n/a | 52 | 1 | 0 | 0 | 0 | ||||||
| Total | n/a | 113 | 1 | 1 | 0 | 1 | ||||||
|
Associates at fair value through profit or loss
|
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| Agrippa Quartier GmbH & Co. Geschlossene InvKG, Frankfurt am Main | 36.5% | 63 | – | n/a | n/a | n/a | ||||||
| Rodolphe GmbH & Co Geschlossene InvKG, Frankfurt am Main | 35.0% | 251 | – | n/a | n/a | n/a | ||||||
| Swiss Life-managed investment funds | n/a | 671 | 17 | n/a | n/a | n/a | ||||||
| Other associates | n/a | 117 | 4 | n/a | n/a | n/a | ||||||
| Total | n/a | 1 102 | 21 | n/a | n/a | n/a | ||||||
Summarised financial information for the year 2024
| Amounts in CHF million | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ownership interest | Carrying amount | Dividends received | Share of profit or loss | Share of other comprehensive income | Share of total comprehensive income | |||||||
|
Equity method associates
|
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| Crédit et Services Financiers (CRESERFI), Paris | 33.4% | 40 | – | 0 | – | 0 | ||||||
| ZSC Lions Arena Immo AG, Zürich | 33.3% | 18 | – | –2 | – | –2 | ||||||
| Other associates | n/a | 48 | 3 | 0 | 0 | 0 | ||||||
| Total | n/a | 106 | 3 | –2 | 0 | –2 | ||||||
|
Associates at fair value through profit or loss
|
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| Agrippa Quartier GmbH & Co. Geschlossene InvKG, Frankfurt am Main | 36.5% | 65 | – | n/a | n/a | n/a | ||||||
| Rodolphe GmbH & Co Geschlossene InvKG, Frankfurt am Main | 35.0% | 235 | – | n/a | n/a | n/a | ||||||
| Other associates | n/a | 72 | – | n/a | n/a | n/a | ||||||
| Total | n/a | 372 | – | n/a | n/a | n/a | ||||||
Summarised financial information relating to material associates was as follows.
Material equity method associates
| Amounts in CHF million | ||||||||
|---|---|---|---|---|---|---|---|---|
| Crédit et Services Financiers (CRESERFI), Paris | ZSC Lions Arena Immo AG, Zürich | |||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| Principal activity | Lending business | Ice hockey stadium operations | ||||||
|
Summarised financial information
|
||||||||
| Current assets | 52 | 44 | 22 | 27 | ||||
| Non-current assets | 105 | 115 | 212 | 211 | ||||
| Current liabilities | –29 | –32 | –23 | –37 | ||||
| Non-current liabilities | –9 | –9 | –145 | –146 | ||||
| Revenue | 15 | 14 | 6 | 10 | ||||
| Profit or loss | 1 | –1 | 0 | –5 | ||||
| Total comprehensive income | 1 | –1 | 0 | –5 | ||||
|
Reconciliation
|
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| Net assets | 119 | 119 | 66 | 55 | ||||
| Ownership interest | 33.4% | 33.4% | 34.3% | 33.3% | ||||
| Share of net assets (carrying amount) | 40 | 40 | 22 | 18 | ||||
Material associates at fair value through profit or loss for the year 2025
| Amounts in CHF million | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current assets | Non-current assets | Current liabilities | Non-current liabilities | Revenue | Profit or loss | Other comprehensive income | Total comprehensive income | |||||||||
| Agrippa Quartier GmbH & Co. Geschlossene InvKG, Frankfurt am Main | 4 | 180 | 0 | –60 | –1 | –1 | – | –1 | ||||||||
| Rodolphe GmbH & Co Geschlossene InvKG, Frankfurt am Main | 13 | 747 | 0 | – | 60 | 17 | – | 17 | ||||||||
Material associates at fair value through profit or loss for the year 2024
| Amounts in CHF million | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current assets | Non-current assets | Current liabilities | Non-current liabilities | Revenue | Profit or loss | Other comprehensive income | Total comprehensive income | |||||||||
| Agrippa Quartier GmbH & Co. Geschlossene InvKG, Frankfurt am Main | 6 | 176 | 0 | –53 | –1 | –1 | – | –1 | ||||||||
| Rodolphe GmbH & Co Geschlossene InvKG, Frankfurt am Main | 12 | 640 | –1 | – | 29 | 24 | – | 24 | ||||||||