Swiss Business Banking http://www.credit-suisse.com/news/en http://www.credit-suisse.com/news/en http://www.credit-suisse.com/framework/core/img/logo_cs.gif 2012 © Credit Suisse en media.relation@credit-suisse.com (Media Relation) Thu, 09 Feb 2012 00:00:00 +0100 60 webmaster.csg@credit-suisse.com (CSG Webmaster) Asset Management Awards Corporate Info Corporate Reporting General Insurance (Winterthur) Investment Banking Private Banking Research, studies, publications Swiss Business Banking Full year 2011 results were impacted by low levels of client activity and the relative strength of the Swiss franc versus 2010, as well as several special items, mainly relating to cost reduction efforts and the evolution of the bank’s strategy. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41936 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41936 Thu, 9 Feb 2012 05:28:48 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking 4Q11 net loss attributable to shareholders of CHF 637 million, Core Results pre-tax loss of CHF 998 million, including negative impact of aggregate CHF 981 million from realignment costs, strategic exits from businesses and the accelerated Basel III risk-weighted assets reduction http://www.credit-suisse.com/investors/en/reports/2011_results_q4.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q4.jsp Thu, 9 Feb 2012 05:28:17 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking As a consequence of the persisting downward trend in interest rates on the money and capital markets Credit Suisse will amend the interest rates for private and corporate clients as per February 1st, 2012. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41927 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41927 Tue, 17 Jan 2012 12:45:44 +0000 Swiss Business Banking The Staff Council and employer representatives of Credit Suisse Group in Switzerland have reached a final agreement on the salary negotiations for 2012. The social partners have agreed on an increase of 0.5% for individual and performance-based salaries for 2012. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41903 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41903 Mon, 28 Nov 2011 10:30:12 +0000 Swiss Business Banking Credit Suisse announced today that it plans to fully integrate Clariden Leu into its organization. It expects to achieve further growth and annually recurring cost savings of around CHF 200 million as a result of this measure. This is part of the previously announced target to increase Private Banking's contribution to the Group's pre-tax income by CHF 800 million by 2014. Hans Ulrich Meister, Chief Executive Officer Private Banking of Credit Suisse, has been appointed Chairman of the Board of Directors of Clariden Leu. Hanspeter Kurzmeyer has been named as its new CEO. The legal and operational integration is expected to be completed by the end of 2012. The resulting job cuts are part of the 3% headcount reduction at Credit Suisse Group over two years that was announced on November 1, 2011. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41891 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41891 Tue, 15 Nov 2011 06:06:12 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking 3Q11 results marked by difficult global market environment and special items - Gained further market share in volatile environment - Core Results pre-tax income of CHF 1,036 million, net income attributable to shareholders of CHF 683 million, core net revenues of CHF 6,817 million, diluted earnings per share of CHF 0.53, net new assets of CHF 7.1 billion, return on equity of 8.7% - Litigation provisions of CHF 295 million in connection with the US tax matter and CHF 183 million (EUR 150 million) in connection with the German tax matter - Excluding fair value gains on own debt and standalone derivatives related to certain of our own funding liabilities, litigation provisions for the US and the German tax matters, and expenses in connection with cost-efficiency initiatives, underlying* pre-tax income was CHF 519 million, underlying* net income attributable to shareholders was CHF 441 million Segment Results - Private Banking with pre-tax income of CHF 183 million, including CHF 478 million of litigation provisions for the US and the German tax matters; net revenues of CHF 2,610 million; net new assets of CHF 7.4 billion, of which CHF 6.6 billion in Wealth Management Clients with strong inflows in ultra-high-net-worth individual (UHNWI) client and emerging market segments - Investment Banking with pre-tax loss of CHF 190 million, reflecting challenging and volatile market environment; net revenues of CHF 2,494 million including significant gains from debit valuation adjustments (DVA) relating to certain structured note liabilities - Asset Management with pre-tax income of CHF 92 million; net new assets of CHF 0.2 billion; net revenues of CHF 471 million; improved fee-based margin of 48 basis points in 3Q11 versus 44 basis points in 2Q11 and 42 basis points in 3Q10 Reinforcing our integrated client-focused, capital-efficient strategy - Refine strategy in Investment Banking targeting reduction of approximately 50% of pro-forma Basel 3 risk-weighted assets in Fixed Income by 2014 - thereby reducing Fixed Income’s share of the Group’s risk-weighted assets from approximately 55% to 39%; close alignment of the Investment Banking business portfolio with Private Banking and Asset Management businesses; redeploying capital and resources to growth businesses - Focus Private Banking business portfolio by improving productivity of global onshore Private Banking footprint; improving offshore delivery model; investing in ultra-high-net-worth individual client segment and further gaining market share in Switzerland while enhancing efficiency of the Swiss platform; increasing Private Banking’s contribution to the Group’s pre-tax income by CHF 800 million excluding market induced growth by 2014 - In Asset Management expand range of alternative products in collaboration with Private Banking and Investment Banking, continue to grow fee-based revenues and further drive cost reductions - Allocate resources to faster growing and large markets, especially in Brazil, Southeast Asia, Greater China and Russia, which we anticipate will grow from 15% of the Group’s revenues in 2010 to 25% by 2014 - Previously announced expense run-rate reduction of CHF 1.0 billion effective January 1, 2012 increased to CHF 1.2 billion; including further reductions delivered through 2012 and 2013 overall expense run-rate reduction of CHF 2.0 billion - Measures are designed to leverage cost synergies across divisions, intensify investment in growth businesses and deliver best-in-class returns https://www.credit-suisse.com/news/en/media_release.jsp?ns=41881 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41881 Tue, 1 Nov 2011 05:28:32 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking 9M11 Core Results pre-tax income of CHF 3,747 million, net income attributable to shareholders of CHF 2,590 million, return on equity of 10.7%, underlying* return on equity of 11.8%, net new assets of CHF 40.5 billion. Continued strong capital position with Basel 2 tier 1 ratio of 17.7%, Basel 2.5 core tier 1 ratio of 10.0% and liquid balance sheet with net stable funding ratio (NSFR) of 97%; client deposits remain largest source of funding and grew by CHF 15 billion to CHF 278 billion. Credit Suisse takes steps to further evolve integrated strategy with significant reduction of risk-weighted assets in Investment Banking, measures to underpin leading profitability in Private Banking and increased allocation of resources to faster-growing and large markets. Previously announced expense run-rate reduction of CHF 1.0 billion effective January 1, 2012 increased to CHF 1.2 billion – including further reductions delivered through 2012 and 2013 overall expense run-rate reduction of CHF 2.0 billion. http://www.credit-suisse.com/investors/en/reports/2011_results_q3.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q3.jsp Tue, 1 Nov 2011 05:28:14 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse today launched a new multi-media advertising campaign in key markets across Europe and Asia as well as the US. Featuring current clients, the campaign highlights the bank’s commitment to helping clients realize their financial ambitions. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41854 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41854 Mon, 26 Sep 2011 06:00:18 +0000 Asset Management Investment Banking Private Banking Swiss Business Banking Infolge der Entwicklung an den Geld- und Kapitalmärkten passt die Credit Suisse per 1. Oktober 2011 die Zinskonditionen im Spar- und Vorsorgesortiment an. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41850 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41850 Wed, 21 Sep 2011 12:03:54 +0000 Swiss Business Banking Credit Suisse Group and the Public Prosecutor's Office in Düsseldorf (Germany) have reached an agreement regarding the proceedings against Credit Suisse employees. The entire proceedings are to be resolved. Credit Suisse will make a payment of EUR 150 million (to be taken in 3Q11). The relevant applications will be submitted to the Düsseldorf District Court today by the Düsseldorf Public Prosecutor's Office. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41848 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41848 Mon, 19 Sep 2011 05:15:44 +0000 Asset Management Corporate Info Investment Banking Private Banking Swiss Business Banking Credit Suisse Bel-Air, Credit Suisse's first location in Geneva, is set to undergo a real transformation. Located in the center of the city, the symbolic building was the subject of an architecture competition. Buchner & Bründler, a well known firm of architects, came out on top. The plans involve restoring this representative bank building from the 1930s to its former glory and completely renovating the interior. The project, which will start at the end of 2012, represents one of the most sizeable investments undertaken by the bank in this area. The results will be unveiled in the summer of 2014. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41843 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41843 Wed, 14 Sep 2011 09:00:31 +0000 Swiss Business Banking The "Swiss Credit Handbook 2011" comprises the credit profiles of the most important Swiss issuers and participants in the Swiss franc capital market. This year, the Handbook compiles assessments of all entities under the coverage of Credit Suisse analysts, including corporates, partner plants, cantons and cities. The handbook also examines prospects for selected issuer industries and the latest trends and topics currently dominating the economic environment, such as FX headwinds and the uncertainty surrounding sovereign debt and the economic outlook. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41838 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41838 Tue, 30 Aug 2011 07:00:28 +0000 Private Banking Research, studies, publications Swiss Business Banking Credit Suisse Group reported underlying pre-tax income of CHF 1.2 billion, underlying net income of CHF 835 million and an underlying return on equity of 10% for 2Q11. Including business realignment costs of CHF 142 million and net fair value gains of CHF 41 million on own debt and stand-alone derivatives relating to own funding liabilities, pre-tax income was CHF 1.1 billion, net income attributable to shareholders was CHF 768 million and core results net revenues were CHF 6.3 billion. The return on equity attributable to shareholders was 9.7% and diluted earnings per share totaled CHF 0.48. The Basel II tier 1 ratio was 18.2% at the end of 2Q11. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41824 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41824 Thu, 28 Jul 2011 04:29:20 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse Group reported underlying pre-tax income of CHF 1.2 billion, underlying net income of CHF 835 million and an underlying return on equity of 10% for 2Q11. Including business realignment costs of CHF 142 million and net fair value gains of CHF 41 million on own debt and stand-alone derivatives relating to own funding liabilities, pre-tax income was CHF 1.1 billion, net income attributable to shareholders was CHF 768 million and core results net revenues were CHF 6.3 billion. The return on equity attributable to shareholders was 9.7% and diluted earnings per share totaled CHF 0.48. The Basel II tier 1 ratio was 18.2% at the end of 2Q11. http://www.credit-suisse.com/investors/en/reports/2011_results_q2.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q2.jsp Thu, 28 Jul 2011 04:28:41 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse was named the "Best Wealth Management House 2011" by Euromoney magazine, a leading publication for the global banking and capital markets. In addition, Credit Suisse received 11 regional and country awards, including “Best Bank in Switzerland.” The honors are based on the results of Euromoney’s Awards For Excellence Survey 2011. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41810 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41810 Mon, 11 Jul 2011 15:14:17 +0000 Awards Private Banking Swiss Business Banking The strong franc is increasingly causing trouble for Swiss SMEs. Although they remain optimistic and expect another rise in exports for the third quarter of 2011, growth is likely to slow – especially as economic prospects abroad have become more subdued. The vast majority of SMEs also face pressure on margins. Those are the most important findings of the SME export outlook indicator produced by Credit Suisse and Osec. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41805 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41805 Tue, 5 Jul 2011 09:00:34 +0000 Private Banking Research, studies, publications Swiss Business Banking Above-average population and employment growth rates reflect the high locational quality and outstanding dynamism of the canton of Geneva. Despite an above-average tax burden and constantly increasing living costs, Geneva ranks fourth among the Swiss cantons according to Credit Suisse's locational quality indicator (LQI). Success factors in the canton of Geneva that can be measured quantitatively include the availability of highly qualified personnel and good transport access, as well as soft locational factors such as the scenic beauty, an international ambience, and proximity to the French border. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41799 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41799 Wed, 22 Jun 2011 10:00:27 +0000 Research, studies, publications Swiss Business Banking SVC – Ltd. for Risk Capital for SMEs (SVC Ltd.) had a successful first year. Demand for funding from SVC Ltd. since it was founded in May 2010 has been significant and it has invested CHF 20 million to date. Thirteen innovative companies were provided with funding in the form of equity capital or long-term loans with a profit share. This supports their growth strategies and will create over 300 new jobs in Switzerland in the medium term. SVC Ltd. expects its available capital of up to CHF 100 million to be fully invested by the end of 2013. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41785 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41785 Mon, 6 Jun 2011 06:15:13 +0000 Awards Private Banking Swiss Business Banking Living costs are not the same everywhere in Switzerland. Swiss households can optimize their budgets by moving to a different location. Substantial savings can be achieved, sometimes by moving only within a short distance. Taxation is only one criterion for assessing whether a municipality is a financially attractive place to live. Freely disposable income, which takes account of all the costs relevant to a particular residential location, is a more comprehensive indicator. Since 2006, the economists at Credit Suisse have calculated the freely disposable income for a variety of exemplary household types in the approximately 2'700 Swiss municipalities. The latest calculation of freely disposable income in Switzerland at municipal level, the so-called RDI indicator, now additionally considers commuting costs. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41782 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41782 Tue, 24 May 2011 08:30:25 +0000 Private Banking Research, studies, publications Swiss Business Banking At today’s Annual General Meeting of Credit Suisse Group AG in Zurich, shareholders approved all of the proposals put forward by the Board of Directors. In particular, they approved the creation of additional conditional capital for the purpose of contingent convertible bonds. Shareholders also voted in favor of a renewal of authorized capital at the current level. Furthermore, shareholders approved the distribution of CHF 1.30 per registered share against reserves from capital contributions. They also approved the 2010 Compensation Report. Three members of the Board of Directors were re-elected: Peter Brabeck-Letmathe, Jean Lanier and Anton van Rossum. Hans-Ulrich Doerig stepped down as Chairman and a member of the Board of Directors as of today and is succeeded by Urs Rohner. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41764 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41764 Fri, 29 Apr 2011 14:45:01 +0000 Asset Management Corporate Info Corporate Reporting General Insurance (Winterthur) Investment Banking Private Banking Swiss Business Banking https://www.credit-suisse.com/news/doc/agm2011/agm_2011_speech_hud_en.pdf https://www.credit-suisse.com/news/doc/agm2011/agm_2011_speech_hud_en.pdf Fri, 29 Apr 2011 08:31:25 +0000 Asset Management Corporate Info Investment Banking Private Banking Swiss Business Banking https://www.credit-suisse.com/news/doc/agm2011/agm_2011_speech_bd_en.pdf https://www.credit-suisse.com/news/doc/agm2011/agm_2011_speech_bd_en.pdf Fri, 29 Apr 2011 08:30:17 +0000 Asset Management Corporate Info Investment Banking Private Banking Swiss Business Banking Credit Suisse reported underlying core results as follows: pre-tax income of 2.2 billion, net income of CHF 1.6 billion on net revenue of CHF 8.4 billion and return on equity of 18.8%. This excludes fair value losses of CHF 617 million (CHF 467 million after tax) on own debt and stand-alone derivatives relating to own funding liabilities. Net income attributable to shareholders was CHF 1.1 billion in 1Q11 on net revenues of CHF 8.2 billion and a return on equity attributable to shareholders of 13.4%. Diluted earnings per share were CHF 0.90 and the tier 1 ratio was 18.2% as of the end of 1Q11. The weakening of the average rate of the US dollar and euro against the Swiss franc adversely affected results in 1Q11 compared to the previous year period. http://www.credit-suisse.com/investors/en/reports/2011_results_q1.jsp http://www.credit-suisse.com/investors/en/reports/2011_results_q1.jsp Wed, 27 Apr 2011 04:44:00 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse reported underlying core results as follows: pre-tax income of 2.2 billion, net income of CHF 1.6 billion on net revenue of CHF 8.4 billion and return on equity of 18.8%. This excludes fair value losses of CHF 617 million (CHF 467 million after tax) on own debt and stand-alone derivatives relating to own funding liabilities. Net income attributable to shareholders was CHF 1.1 billion in 1Q11 on net revenues of CHF 8.2 billion and a return on equity attributable to shareholders of 13.4%. Diluted earnings per share were CHF 0.90 and the tier 1 ratio was 18.2% as of the end of 1Q11. The weakening of the average rate of the US dollar and euro against the Swiss franc adversely affected results in 1Q11 compared to the previous year period. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41761 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41761 Wed, 27 Apr 2011 04:43:14 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Economic expectations brightened up considerably in April. The relevant Credit Suisse ZEW Indicator surged by 22.3 points to the 8.8 threshold, moving into positive territory again for the first time since August 2010. The indicator for the assessment of the current economic situation diminished somewhat at a high level, dipping to the 61.8 mark (-5.8 points). Expectations regarding inflation and interest rates increased anew in April. The indicator for the inflation outlook climbed by 8.7 points, and in the interim 76.5% of the financial market experts surveyed forecast an advancing inflation rate on a six-month horizon. The balance of expectations for the short-term interest rate environment picked up practically the same number of points (+8.9), moving up to the 79.4 level. A somewhat larger share of survey participants (17.6%) in April predict that the Swiss franc will gain terrain against the euro in the coming half-year. However, roughly one-third of the respondents still expect to see a lower valuation of the Swiss currency. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41757 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41757 Thu, 14 Apr 2011 09:00:13 +0000 Private Banking Research, studies, publications Swiss Business Banking The Board of Directors of Credit Suisse Group AG today announced its proposals for the Annual General Meeting of April 29, 2011. Credit Suisse Group AG today published its 2010 Annual Report, which includes the Compensation Report, as well as its Corporate Responsibility Report and Company Profile. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41743 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41743 Thu, 24 Mar 2011 06:24:49 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Following seven months of renovation work, the Credit Suisse branch in Dietikon will reopen on February 21, 2011. The redesigned interior now has a clearer layout, and the technical facilities have been modernized. In order to offer clients even more personal and individual advice, Credit Suisse has implemented its new concept for client reception in the Dietikon branch. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41715 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41715 Wed, 16 Feb 2011 12:00:37 +0000 Swiss Business Banking Credit Suisse Group has executed a definitive agreement with strategic investors, Qatar Holding LLC and The Olayan Group, to issue an aggregate of approximately CHF 6 billion of Tier 1 buffer capital notes to be paid up no earlier than October 2013 for cash or in exchange for Tier 1 capital notes issued in 2008. This form of contingent capital will satisfy an estimated 50% of the high trigger contingent capital requirement under FINMA rules as part of the proposed Swiss TBTF-regime. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41709 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41709 Mon, 14 Feb 2011 05:58:25 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Swiss Business Banking Credit Suisse Group reported 4Q10 underlying net income of CHF 1 billion, net income attributable to shareholders was CHF 841 million with core net revenues of CHF 7.0 billion. Full year underlying net income of CHF 5.0 billion, net income attributable to shareholders of CHF 5.1 billion in 2010 and core net revenues of CHF 30.6 billion. The underlying return on equity was 11.5% in 4Q10 and 14.1% in 2010. Return on equity attributable to shareholders was 9.8% in 4Q10 and 14.4% in 2010. Diluted earnings per share were CHF 0.59 in 4Q10 and CHF 3.89 for the full year. As of the end of 4Q10, the tier 1 ratio was 17.2%. http://www.credit-suisse.com/investors/en/reports/2010_results_q4.jsp http://www.credit-suisse.com/investors/en/reports/2010_results_q4.jsp Thu, 10 Feb 2011 06:14:07 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking Credit Suisse Group reported 4Q10 underlying net income of CHF 1 billion*, net income attributable to shareholders was CHF 841 million with core net revenues of CHF 7.0 billion. Full year underlying net income of CHF 5.0 billion*, net income attributable to shareholders of CHF 5.1 billion in 2010 and core net revenues of CHF 30.6 billion. The underlying return on equity was 11.5% in 4Q10 and 14.1% in 2010. Return on equity attributable to shareholders was 9.8% in 4Q10 and 14.4% in 2010. Diluted earnings per share were CHF 0.59 in 4Q10 and CHF 3.89 for the full year. As of the end of 4Q10, the tier 1 ratio was 17.2%. https://www.credit-suisse.com/news/en/media_release.jsp?ns=41697 https://www.credit-suisse.com/news/en/media_release.jsp?ns=41697 Thu, 10 Feb 2011 06:13:48 +0000 Asset Management Corporate Info Corporate Reporting Investment Banking Private Banking Research, studies, publications Swiss Business Banking