Corporate Press Release

Press Release

Credit Suisse Group reports 1Q15 results

Credit Suisse delivered a strong and consistent performance in 1Q15. Private Banking & Wealth Management results benefitted from a particularly strong performance in Wealth Management Clients. Investment Banking results reflected increased sales and trading revenues, while underwriting and advisory businesses had a slow start to the year.

  • Reported net income of CHF 1.1 billion, up 23% year-on-year
  • Strong performance from Wealth Management Clients with improved margins and profits
  • Consistent strategic returns in Investment Banking; sales and trading benefitted from increased market volatility
  • Further significant leverage reduction; on track to meet targets
  • Limited impact from changed currency and interest rate environment post SNB announcement due to mitigating actions and improved market activity

Brady W. Dougan, Chief Executive Officer, said: “We delivered another quarter of strong and consistent performance. Wealth Management Clients generated a particularly strong result, with improved margins, increased profitability and good net asset inflows from key growth regions. In our well-diversified Investment Banking franchise, we achieved consistent strategic results and reported a return on regulatory capital of 19%, despite further significant deleveraging.”

“Our swift and proactive response to the changed currency and interest rate environment post the Swiss National Bank’s announcement, combined with an improvement in market activity, mitigated the impact on our results and led to higher revenues in our Wealth Management Clients business.”

“Looking at the second quarter to date, the momentum in the businesses has carried over from the first quarter, with an improving trend in underwriting and advisory. We remain committed to our capital and leverage goals and expect to make further progress in executing our strategic initiatives over the balance of 2015.”

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