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Credit Suisse Group reports 1Q14 results

Credit Suisse 1Q14 Core pre-tax income of CHF 1,940 million for strategic businesses; reported Core pre-tax income of CHF 1,400 million

Return on equity of 14% for strategic businesses; reported return on equity of 8%

Strong performance in Private Banking & Wealth Management with increased pre-tax income of CHF 1,012 million; lower expenses and substantial asset inflows with strategic net new assets of CHF 16 billion and total net new assets of CHF 13.7 billion

Solid returns in Investment Banking with pre-tax income of CHF 827 million; strong performance in key businesses

SME Export Indicator Q2 2014: Optimism despite setback in Asia

2014-04-17 The outlook for foreign demand for Swiss export goods receded slightly from the previous quarter. It has dimmed particularly for exports to Asian markets. Nevertheless, Swiss SMEs remain just as optimistic as before. Export sentiment hasn’t been this sanguine since mid-2011, and all sectors are anticipating rising exports. Swiss exports are being spurred by growth in the USA and the UK, as well as by the progressing recovery in the euro zone. Those are the findings of the SME export indicator produced by Credit Suisse and Switzerland Global Enterprise.

Credit Suisse Group reports 1Q14 results

2014-04-16 Credit Suisse 1Q14 Core pre-tax income of CHF 1,940 million for strategic businesses; reported Core pre-tax income of CHF 1,400 million

Return on equity of 14% for strategic businesses; reported return on equity of 8%

Strong performance in Private Banking & Wealth Management with increased pre-tax income of CHF 1,012 million; lower expenses and substantial asset inflows with strategic net new assets of CHF 16 billion and total net new assets of CHF 13.7 billion

Solid returns in Investment Banking with pre-tax income of CHF 827 million; strong performance in key businesses

Credit Suisse Announces April Monthly Coupon Payments of $0.1764 per ETN on its Gold Shares Covered Call ETN (ticker symbol “GLDI”) and $0.2302 per ETN on its Silver Shares Covered Call ETN (ticker symbol “SLVO”)

2014-04-14 On April 11, 2014, Credit Suisse declared $0.1764 per ETN monthly Coupon Payment for the Gold Shares Covered Call ETN (the “GLDI ETN”) and declared $0.2302 per ETN monthly Coupon Payment for the Silver Shares Covered Call ETN (the “SLVO ETN”). The respective Coupon Payments are payable on April 25, 2014 to holders of record on April 22, 2014. The ex-dividend date is April 17, 2014.

Commodity Market Increased Slightly in March Due to Encouraging Supply Fundamentals (PDF)

2014-04-10 Commodities increased slightly in March as positive fundamentals and heightened macroeconomic risk supported returns.

Proposals for the Annual General Meeting on May 9, 2014

2014-04-03 The Board of Directors of Credit Suisse Group AG today published the agenda for the Annual General Meeting on May 9, 2014.

- Proposal for a cash distribution to shareholders for the 2013 financial year of CHF 0.70
- Proposal to increase the conditional capital for the purpose of delivering shares in the context of employee stock option programs from CHF 441,983.92 (equivalent to 11,049,598 registered shares) by CHF 1,200,000 (equivalent to 30,000,000 shares) to a maximum of CHF 1,641,983.92 (equivalent to 41,049,598 registered shares)
- Consultative vote on the 2013 Compensation Report
- Proposal on the amendments to the Articles of Association to implement the new Ordinance against Excessive Compensation with respect to Listed Stock Corporations
- Walter B. Kielholz and Peter Brabeck-Letmathe will be stepping down from the Board of Directors at the General Meeting on May 9, 2014, after 15 years and 17 years of service, respectively
- All other members of the Board of Directors will be standing for re-election
- The Board proposes Severin Schwan and Sebastian Thrun for election to the Board of Directors as new members
- Election of the members of the Compensation Committee

The proposal for the cash distribution to shareholders for the 2013 financial year was previously announced on February 6, 2014.

The 2013 Annual Report is available online.

The Board of Directors of Credit Suisse Group AG today announced its proposals for the Annual General Meeting on May 9, 2014, including the proposal to appoint Severin Schwan and Sebastian Thrun to the Board of Directors.

Credit Suisse publishes its 2013 Annual Report

2014-04-03 Credit Suisse Group AG and Credit Suisse AG today published their 2013 Annual Report. The 2013 Annual Report on Form 20-F includes their audited financial statements and Compensation Report. The Corporate Responsibility Report and the Company Profile have also been published.

Credit Suisse’s preliminary results for 2013 were updated to reflect an additional after-tax charge of CHF 468 million, primarily due to an increase in the litigation provision relating to the ongoing United States Department of Justice (DOJ) investigation into the US tax-related matter.

As a result, Credit Suisse reported a net loss of CHF 476 million for 4Q13. For the full year 2013, reported core results pre-tax income was CHF 3,504 million, compared to CHF 1,888 million in 2012, and reported 2013 net income attributable to shareholders was CHF 2,326 million, compared to CHF 1,349 million in 2012. Credit Suisse’s Look-through Total Capital ratio was 15.7%, Look-through Basel III CET1 ratio was 10.0%, and Basel III CET1 ratio was 15.7% as of the end of 2013.

Credit Suisse Liquid Alternative Beta (“LAB”) Index Up 0.33% in March (PDF)

2014-04-02 The Credit Suisse LAB Index was up 0.33% in March.

DLJ Merchant Banking Partners Spins Off from Credit Suisse

2014-04-01 Credit Suisse today announced that DLJ Merchant Banking Partners (“DLJ MBP”), the bank’s mid-market leveraged buyout business, has spun off into an independent advisory firm, aPriori Capital Partners L.P. (“aPriori Capital”), established by the existing DLJ MBP management team led by Colin Taylor and Susan Schnabel.

Statement by Credit Suisse on the investigation by the Swiss Competition Commission into forex trading

2014-03-31 Credit Suisse AG was astonished to note the allegations made by the Swiss Competition Commission in the press release issued today. Credit Suisse AG was not the subject of the preliminary investigation carried out by the Competition Commission into various banks.

The press release contains incorrect references to Credit Suisse AG and these allegations are both inappropriate and harmful to our reputation. Credit Suisse AG will cooperate fully with the authorities in this matter.

Credit Suisse Announces Expected April Coupon Payments on its Gold Shares Covered Call ETN (ticker symbol “GLDI”) and its Silver Shares Covered Call ETN (ticker symbol “SLVO”)

2014-03-24 On March 17, 2014, the Credit Suisse NASDAQ Gold FLOWS 103 Index and the Credit Suisse NASDAQ Silver FLOWS 106 Index (the “Indices”) concluded the notional sale of options on GLD shares and SLV shares with April expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on April 11, 2014, subject to adjustment in the event of any market disruption events.

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