About Us Press Release

Press Release

Credit Suisse Group announces full year and fourth quarter 2020 financial results

Strong underlying performance positions bank to accelerate growth
  • Reported 4Q20 pre-tax loss of CHF 88 mn, net revenues of CHF 5.2 bn; results impacted by increased provision for credit losses, major litigation provisions, restructuring costs and significant items; 4Q20 adjusted pre-tax income, excluding significant items* of CHF 861 mn
  • Reported FY20 pre-tax income of CHF 3.5 bn, net revenues of CHF 22.4 bn, diluted earnings per share of CHF 1.06
  • FY20 adjusted pre-tax income, excluding significant items*, of CHF 4.4 bn, up 6% versus 2019

Thomas Gottstein, Chief Executive Officer of Credit Suisse Group AG, commented: “Despite a challenging environment for societies and economies in 2020, we saw a strong underlying performance across Wealth Management and Investment Banking, while addressing historic issues. We remained focused on serving our clients around the globe and on delivering value to our shareholders. The steady execution of the strategic initiatives we announced last July supports our growth agenda and allows for further investment in our businesses. Looking forward into 2021 and beyond, we aim to further accelerate growth in Wealth Management and deliver sustainable returns in Investment Banking. We remain strongly committed to positioning Credit Suisse as a leader in sustainability and driving digitalization and automation to generate positive operating leverage. I would like to thank all our employees for their outstanding commitment and loyalty.”

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