(continuation) Our business activities remain focused on private banking, asset management and investment banking (including lending). We try to avoid monocultures in our offering. Within our areas of business, we strive to provide our clients with the best quality products and services. If we enter into business risks, we do so very consciously and bearing in mind our risk-bearing capacity.
Contributing factors to net fee and commission income this year were a revival in capital market activity, which is served by our Corporate Finance and Sales and Trading units, and sustained high revenue from bond sales. Revenue growth in the equity markets was meager. Private investors held back from securities transactions due to the uncertainty stemming from the state of the economy in Europe and concentrated on real estate and other investments outside the capital markets. Net interest income was boosted by our middle-market client operations. Our corporate clients benefited especially from the stable economy at home and the emerging markets.