Net fee and commission income

12 Months Ended

Dec. 31, 2023

Net fee And Commission Income [Line Items]

Disclosure Of Fee And Commission Income Expense Explanatory

Note 5 Net fee and commission income

For the year ended

USD m

31.12.23

31.12.22

31.12.21

Underwriting fees

568

579

1,463

M&A and corporate finance fees

840

804

1,102

Brokerage fees

3,542

3,484

4,382

Investment fund fees

4,837

4,942

5,790

Portfolio management and related services

10,673

9,059

9,762

Other

3,306

1,920

1,874

Total fee and commission income

1

23,766

20,789

24,372

of which: recurring

15,911

14,229

15,410

of which: transaction-based

7,761

6,492

8,692

of which: performance-based

94

68

269

Fee and commission expense

2,195

1,823

1,985

Net fee and commission income

21,570

18,966

22,387

1 For the year ended 31 December 2023, reflects third-party fee and commission income of USD

13,753

m for Global Wealth Management, USD

2,733

m for Personal & Corporate Banking, USD

3,325

m for Asset

Management, USD

3,955

m for the Investment Bank, negative USD

128

m for Group Items and USD

128

m for Non-core and Legacy (for the year ended 31 December 2022: USD

12,990

m for Global Wealth Management,

USD

1,654

m for Personal & Corporate Banking, USD

2,840

m for Asset Management, USD

3,296

m for the Investment Bank, USD

10

m for Group Items and USD

0

m for Non-core and Legacy; for the year ended

31 December 2021: USD

14,545

m for Global Wealth Management, USD

1,644

m for Personal & Corporate Banking, USD

3,337

m for Asset Management, USD

4,814

m for the Investment Bank, USD

33

m for Group

Items and USD

0

m for Non-core and Legacy). For the year ended 31 December 2023, Non-core and Legacy (previously reported within Group Functions) represents a separate reportable segment and Group Functions

has been renamed Group Items. Prior periods have been revised to reflect these changes.

Total net fee and commission income increased by USD

2,604

m to USD

21,570

m, largely attributable to

the consolidation of USD

3,010

m of Credit Suisse revenues.

Included in

Other

 is USD

747

m of accretion of purchase price allocation (PPA) adjustments on financial instruments

measured at amortized cost, including off-balance sheet positions and other related effects, arising from the acquisition

of the Credit Suisse Group. Accretion of PPA adjustments on financial instruments is accelerated when the related financial

instrument is terminated or disposed of before its contractual maturity.