Corporate Press Release

Press Release

Release of restated historical financial information following the previously communicated changes in Credit Suisse’s organizational structure

Credit Suisse today released restated financial history arising from the changes to the divisional and organizational reporting structure of the Swiss Universal Bank and Asia Pacific divisions, as previously communicated. The changes do not impact the consolidated results of Credit Suisse Group.

As announced in December 2016 at our Investor Day and in connection with the publication of our 4Q16 Earnings Release, Credit Suisse Group implemented a reorganization and change to financial reporting for our Swiss Universal Bank (SUB) and Asia Pacific divisions. Credit Suisse today released restated historical financial information with respect to both of these divisions for all quarters from 2014 to 2016 as well as for the full years 2012 and 2013. Beginning with Credit Suisse’s 1Q17 results, to be released on or about April 26, 2017, the results of these two divisions will be disclosed according to the amended reporting structure.

Additionally, the changes do not impact the consolidated results of Credit Suisse Group.

Effective January 1, 2017, SUB commenced serving its clients through the following four dedicated business areas in order to better serve its Swiss client base: Private & Wealth Management Clients and Premium Clients within the Private Clients business (formerly Private Banking), and Corporate Clients and Institutional Clients within the Corporate & Institutional Clients business (formerly Corporate & Institutional Banking). The most significant change which arises pursuant to this modification in organizational structure relates to the transfer of the external asset managers business from the former Private Banking business to the former Corporate & Institutional Banking business.

In our Asia Pacific division, our wealth management, financing and underwriting and advisory teams are working more closely together to deliver integrated advisory services and solutions to our target ultra-high-net-worth, entrepreneur and corporate clients. Our new Wealth Management & Connected business now encompasses our activities in wealth management (formerly Private Banking) as well as financing, underwriting and advisory for this important client group (formerly part of Investment Banking). Our new Markets business (formerly part of Investment Banking) represents our existing fixed income and equities trading business in Asia Pacific, which continues to support our wealth management activities, but also deals extensively with a broader range of institutional clients. Margin calculations for the Wealth Management & Connected business remain aligned with the performance metrics of the former Private Banking business and its related assets under management.

A spreadsheet providing the restated historical financial information can be found under Quarterly Earnings Material.

The new reporting is consistent with the recent commentary with regard to the performance of our Asia Pacific division where trends in 1Q17 are broadly similar to 4Q16. These trends reflect continued momentum in our Wealth Management & Connected business, but a subdued environment for our Markets business. In IWM, our Asset Management business benefitted from private equity and investment gains of CHF 45 million and CHF 24 million in 1Q16 and 2Q16 respectively.