180044_note4 by huanghengdong

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									UBS AG                                                                                        1/24/2012 / 8:09 AM

Note 4 Net fee and commission income
                                                              For the quarter ended              % change from
CHF million                                             31.3.10      31.12.09       31.3.09      4Q09       1Q09
Equity underwriting fees                                   272           437           275         (38)        (1)
Debt underwriting fees                                     199           163           180          22         11
Total underwriting fees                                    471           600           455         (22)         4
M&A and corporate finance fees                             204           241           230         (15)      (11)
Brokerage fees                                           1,485         1,377         1,556           8         (5)
Investment fund fees                                     1,012         1,013         1,014           0          0
Portfolio management and advisory fees                   1,519         1,459         1,451           4          5
Insurance-related and other fees                            92            73            69          26         33
Total securities trading and investment activity fees    4,783         4,762         4,775           0          0
Credit-related fees and commissions                        110           102            81           8         36
Commission income from other services                      210           228           204          (8)         3
Total fee and commission income                          5,102         5,092         5,061           0          1
Brokerage fees paid                                        408           321           479          27       (15)
Other                                                      323           333           340          (3)        (5)
Total fee and commission expense                           731           654           819          12       (11)
Net fee and commission income                            4,372         4,438         4,241          (1)         3
  of which: net brokerage fees                           1,078         1,056         1,077           2          0




                                                                                       First Quarter 2010 Report

								
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