Corporate Press Release

Press Release

Credit Suisse Group announces 1Q18 results

 

Group 1Q18 reported pre-tax income of CHF 1.1 billion, up 57% year on year

1Q18 adjusted* pre-tax income of CHF 1.2 billion, up 36% year on year; sixth consecutive quarter of year-on-year profit1 growth and highest quarterly adjusted* pre-tax income for the last 11 quarters

Quarterly costs2 reduced to lowest level in last 5 years; additional net cost savings of CHF 0.2 billion in 1Q18 at constant FX rates

Accelerating profit growth in SUB, IWM and APAC WM&C; combined adjusted* pre-tax income of CHF 1.3 billion in 1Q18, up 27% year on year

Highest quarterly Wealth Management3 NNA in last 7 years with CHF 14.4 billion in 1Q18, up 20% year on year; record AuM of CHF 776 billion at end-1Q18, up 9% year on year at increased adjusted* net margins

IBCM with net revenues down 8% in USD year on year, reflecting lower levels of primary activity, against the Street down 17%4

GM5 with highest quarterly net revenues since the start of its restructuring in 1Q16. Net revenues up 2% in USD year on year (down 4% in CHF); adjusted* pre-tax income up 6% in USD and stable in CHF

Look-through CET1 ratio of 12.9%

1Q18 net income attributable to shareholders of CHF 694 million, up 16% year on year. Group tax rate expected to drop to mid-20s for 20196

Driving higher shareholder returns; 1Q18 Group reported RoTE of ~8%, up from 6.5% in 1Q17 and ~-3% in 1Q16, an ~11 percentage point improvement in two years

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