Investor Relations Full-Year and Fourth Quarter 2017 Results

Full-Year and Fourth Quarter 2017 Results

On February 14, 2018, Credit Suisse Group presented its full-year and fourth quarter 2017 results to investors and analysts as well as to media representatives. 

  • FY17 Group adjusted* net revenues of CHF 20.9 billion, up 5% year on year (4Q17: CHF 5.2 billion)
  • FY17 adjusted* operating cost base of CHF 17.7 billion at actual FX rates1, down 7% year on year (4Q17: CHF 4.5 billion)
  • FY17 Group reported pre-tax income of CHF 1.8 billion, compared to pre-tax loss of CHF 2.3 billion in FY16 (4Q17: pre-tax income of CHF 141 million)
  • FY17 Group adjusted* pre-tax income of CHF 2.8 billion, up 349% year on year (4Q17: CHF 569 million)
  • FY17 net loss attributable to shareholders of CHF 983 million, including income tax expenses of CHF 2,741 million primarily related to the re-assessment of deferred taxes resulting from the US tax reform (4Q17: net loss attributable to shareholders of CHF 2,126 million)
  • The US Department of the Treasury is expected to issue guidance to clarify the application of the base erosion and anti-abuse tax (BEAT). On the basis of the current analysis of the BEAT alternative tax regime, we regard it as more likely than not that the Group will not be subject to this regime in 2018
   

* Adjusted results are non-GAAP financial measures. For a reconciliation of the adjusted results to the most directly comparable US GAAP measures, see the Appendix of this Media Release.

1 Measured using adjusted* operating cost base without adjusting for FX (the impact of which was CHF 326 million for 2017 and CHF 49 million for 4Q17).

Webcast Replay

  • Presentation to investors and analysts / Q&A (English)
  • Presentation to the media (English | German)

Telephone Conference Replay

  • Switzerland: +41 44 580 34 56
  • Europe: +44 1452 550 000
  • USA: +1 866 247 4222

The telephone replay function will be available for 10 days.

Conference IDs

  • Presentation to investors and analysts: 4496267
  • Presentation to the media: EN: 5669697 | DE: 7482058