9Investment income and investment and loan expenses

In 2023, the investment income contains ordinary and extraordinary dividend payments from subsidiaries amounting to CHF 182.3 million (2022: CHF 142.9 million). The release of allowances on investments amounts to CHF 17.6 million (2022: CHF 0.0 million). The income from the sale of subsidiaries amounts to CHF 0.4 million (2022: CHF 7.0 million), net.

The investment and loan expenses contain allowances on investments amounting to CHF 10.5 million (2022: CHF 44.6 million) and waivers on loans and receivables amounting to CHF 0.8 million (2022: CHF 71.3 million). The share of loss from associates amounts to CHF 2.9 million (2022: CHF 2.5 million).