Consensus Summary Published as of October 16, 2017

Transcription

1 Consensus Summary Published as of October 16, 2017 The consensus summary reflects simple averages based on estimates received from 18 analysts from October 3 to October 9, It includes analysts estimates of certain items as noted on page 8 of this report. The opinions, estimates and forecasts of analysts, and the consensus information presented derived from it, regarding Credit Suisse Group s performance are the analysts alone and do not represent opinions, estimates or forecasts of Credit Suisse Group or its management. Credit Suisse Group has not verified any of the information it has received and makes no representation as to the accuracy or completeness of the consensus information. Nor does Credit Suisse Group endorse or concur with, or assume responsibility for, such analyst information or recommendations or assume any responsibility to update or supplement such information. This material is being provided for informational purposes only and is not intended to, nor does it, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. Copyright 2017 Credit Suisse Group. All rights reserved. Investor Relations

2 2 Credit Suisse Investor Relations Consensus Report Consensus Summary Consensus Summary Credit Suisse Credit Suisse Net revenues 4,965 4,971 20,915 20,892 21,974 22,026 23,132 23,218 of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses 4,599 4,584 18,744 18,788 17,808 17,824 17,491 17,337 of which restructuring expenses of which litigation provisions Income/(loss) from continuing operations before taxes ,900 1,807 3,905 3,913 5,378 5,380 Income/(loss) from continuing operations before taxes, excl ,707 2,708 4,437 4,527 5,571 5,590 Income tax expense ,082 1,080 1,466 1,468 Income/(loss) from continuing operations ,296 1,233 2,823 2,824 3,912 3,958 Income/(loss) from discontinued operations Net income/(loss) attributable to noncontrolling interests Net income/(loss) attributable to shareholders ,290 1,230 2,801 2,822 3,900 3,922 Statement of operations metrics (%) Effective tax rate Core Results 1 Net revenues 5,187 5,188 21,826 21,812 22,617 22,705 23,352 23,403 of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses 4,178 4,173 17,313 17,324 16,791 16,761 16,933 16,924 of which restructuring expenses of which litigation provisions Income/(loss) from continuing operations before taxes ,309 4,292 5,603 5,616 6,178 6,166 Income/(loss) from continuing operations before taxes, excl. 1,008 1,029 4,589 4,615 5,719 5,756 6,220 6,166 BIS capital metrics Group in /end of 3Q17E in /end of 2017E in /end of 2018E in /end of 2019E Total shareholders equity (CHF bn) CET1 capital (CHF bn, "look-through") Risk-weighted assets (CHF bn, "look-through") CET1 ratio (%, "look-through") BIS leverage metrics Group CET1 capital (CHF bn, "look-through") Leverage exposure (CHF bn, "look-through") CET1 leverage ratio (%, "look-through") Dividend per share (CHF) in 2017E in 2018E in 2019E Mean Median Mean Median Mean Median Dividend per share (CHF) Core Results reflect results of five reporting segments (Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets) and Corporate Center.

3 Consensus Summary Credit Suisse Investor Relations Consensus Report 3 Consensus by division Swiss Universal Bank (SUB) Net revenues 1,350 1,349 5,493 5,488 5,662 5,665 5,796 5,838 of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses ,584 3,582 3,484 3,448 3,509 3,488 of which restructuring expenses of which litigation provisions Income/(loss) before taxes ,806 1,790 2,064 2,076 2,168 2,165 Income/(loss) from continuing operations before taxes, excl ,881 1,868 2,099 2,090 2,178 2,174 Swiss Universal Bank - Private Clients Net revenues ,891 2,889 3,019 3,004 3,103 3,104 Provisions for credit losses Total operating expenses ,059 2,057 2,010 2,008 2,029 2,027 Income/(loss) before taxes , Swiss Universal Bank - Corporate & Institutional Clients Net revenues ,602 2,597 2,643 2,658 2,693 2,700 Provisions for credit losses Total operating expenses ,525 1,527 1,474 1,475 1,480 1,484 Income/(loss) before taxes ,023 1,019 1,107 1,133 1,148 1,178 Margins on assets under management - Swiss Universal Bank Private Clients (annualized) (bp) Gross margin Net margin Assets under management and net new assets Assets under management (CHF billion) Swiss Universal Bank - Private Clients Swiss Universal Bank - Corporate & Institutional Clients Net new assets (CHF billion) Swiss Universal Bank - Private Clients Swiss Universal Bank - Corporate & Institutional Clients

4 4 Credit Suisse Investor Relations Consensus Report Consensus Summary International Wealth Management (IWM) Net revenues 1,228 1,233 5,017 5,022 5,270 5,267 5,520 5,549 of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses ,650 3,646 3,668 3,650 3,741 3,692 of which restructuring expenses of which litigation provisions Income/(loss) before taxes ,343 1,355 1,574 1,585 1,744 1,720 Income/(loss) from continuing operations before taxes, excl ,394 1,413 1,588 1,590 1,751 1,730 International Wealth Management - Private Banking Net revenues ,615 3,611 3,786 3,793 3,981 3,988 Provisions for credit losses Total operating expenses ,546 2,544 2,560 2,552 2,619 2,612 Income/(loss) before taxes ,045 1,038 1,198 1,181 1,327 1,314 International Wealth Management - Asset Management Net revenues ,402 1,405 1,484 1,481 1,539 1,534 Provisions for credit losses Total operating expenses ,104 1,100 1,108 1,096 1,122 1,103 Income/(loss) before taxes Margins on assets under management - International Wealth Management Private Banking (annualized) (bp) Gross margin Net margin Assets under management and net new assets Assets under management (CHF billion) International Wealth Management - Private Banking International Wealth Management - Asset Management Net new assets (CHF billion) International Wealth Management - Private Banking International Wealth Management - Asset Management

5 Consensus Summary Credit Suisse Investor Relations Consensus Report 5 Asia Pacific (APAC) Net revenues ,410 3,394 3,648 3,643 3,898 3,932 Provisions for credit losses Total operating expenses ,729 2,729 2,699 2,684 2,780 2,787 of which restructuring expenses of which litigation provisions Income/(loss) before taxes ,073 1,061 Income/(loss) from continuing operations before taxes, excl ,076 1,061 Asia Pacific - Wealth Management & Connected Net revenues ,245 2,249 2,403 2,432 2,591 2,632 Provisions for credit losses Total operating expenses ,488 1,481 1,527 1,513 1,605 1,610 Income/(loss) before taxes Asia Pacific - Markets Net revenues ,165 1,173 1,245 1,243 1,307 1,280 Provisions for credit losses Total operating expenses ,241 1,228 1,172 1,160 1,175 1,170 Income/(loss) before taxes (7) (6) (80) (79) Assets under management and net new assets Assets under management (CHF billion) Asia Pacific - Private Banking Net new assets (CHF billion) Asia Pacific - Private Banking

6 6 Credit Suisse Investor Relations Consensus Report Consensus Summary Global Markets (GM) Net revenues 1,301 1,301 5,765 5,716 5,849 5,832 5,883 5,940 Provisions for credit losses Total operating expenses 1,198 1,193 4,971 4,963 4,796 4,796 4,768 4,754 of which restructuring expenses of which litigation provisions Income/(loss) before taxes ,031 1,064 1,092 1,139 Income/(loss) from continuing operations before taxes, excl ,082 1,119 1,112 1,203 Investment Banking & Capital Markets (IBCM) Net revenues ,146 2,184 2,187 2,176 2,251 2,230 Provisions for credit losses Total operating expenses ,715 1,713 1,699 1,693 1,714 1,714 of which restructuring expenses of which litigation provisions Income/(loss) before taxes Income/(loss) from continuing operations before taxes, excl

7 Consensus Summary Credit Suisse Investor Relations Consensus Report 7 Corporate Center (CC) Corporate Center results Net revenues (2) 0 (5) of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses of which restructuring expenses Income/(loss) before taxes (166) (165) (672) (659) (445) (396) (418) (384) Income/(loss) from continuing operations before taxes, excl. (165) (165) (670) (656) (444) (396) (418) (384) Strategic Resolution Unit (SRU) in 3Q17E in 2017E in 2018E in 2019E Net revenues (222) (236) (911) (942) (643) (695) (220) (244) of which Real Estate Gains and Gains on Business Sales Provisions for credit losses Total operating expenses ,431 1,480 1,017 1, of which restructuring expenses of which litigation provisions Income/(loss) before taxes (658) (655) (2,409) (2,426) (1,699) (1,711) (800) (800) Income/(loss) from continuing operations before taxes, excl. (469) (474) (1,883) (1,869) (1,285) (1,307) (649) (703)

8 8 Credit Suisse Investor Relations Consensus Report Consensus Summary Additional information Consensus includes average analysts' estimates of the following items: Statement of operations (CHF million) Division Net revenues Real Estate and Business Sales gains SUB Real Estate and Business Sales gains IWM Real Estate and Business Sales gains CC Real Estate and Business Sales gains SRU Total operating expenses Restructuring expenses SUB Restructuring expenses IWM Restructuring expenses APAC Restructuring expenses GM Restructuring expenses IBCM Restructuring expenses CC Restructuring expenses SRU Total Restructuring expenses Litigation provisions SUB Litigation provisions IWM Litigation provisions APAC Litigation provisions GM Litigation provisions IBCM Litigation provisions SRU Total Litigation provisions Income/(loss) before taxes (241) (807) (532) (193)