Consolidated statement of Cash Flows

(Amount expressed in CHF 1’000)

Year under review Previous year

Source Application Source Application of funds of funds of funds of funds

Cash flow from operating activities (internal source)

Net income 10’706 9’062 Depreciation of fixed assets 2’321 2’536 Valuation adjustments and provisions 640 110 235 1’662 Change of reserves for general banking risks 560 1’250 Accrued income and prepaid expenses 3 293 Accrued expenses and deferred income 213 1’451 Other expenses 6’923 8’759 Other income 8’644 11’358 Dividend 5’000 4’000

Balance 7’180 8’276

Cash Flow from shareholders’equity transactions

Variation in minority shareholdings in the equity capital 1’782 147 Foreign currency transactions and consolidation differences 178

Balance 1’604 147

Cash flow from investment activities

Participations Fixed assets Intangible assets

Balance

3 1’774 1’462 1’209

2’986 1’462

Cash flow from investment activities

Medium and long term operations (>1 year) Saving and investments accounts 3’504 4’417 Mortgages 12’030 804 Financial investments 34’762 12’623

Short-term operations Due to banks 2’632 13’428 Due to customers 85’392 152’500 Due from banks 59’016 99’113 Due from customers 14’699 28’207 Securities and precious metal portfolios 2’652 71

Liquidity Cash 25’833 67’502

Balance 5’798 6’667