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Credit Suisse Group AG (CS)

CS on New York Consolidated

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28 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Credit Suisse CEO - core business definitely profitable in 2017
Tuesday, 14 Feb 2017 05:24am EST 

Credit Suisse Group AG : Credit suisse CEO says there has never been any prospect that we would not remain main owner of Swiss bank .Credit suisse CEO says core of business of the bank definitely will be profitable in 2017, hope it will also be profitable with sru included but have no certainty.  Full Article

Credit Suisse CEO: core business will be profitable in 2017, no certainty with SRU
Tuesday, 14 Feb 2017 04:04am EST 

Credit Suisse Group Ag CEO says : there has never been any prospect that we would not remain main owner of Swiss bank . core of business of the bank definitely will be profitable in 2017, hope it will also be profitable with SRU included but have no certainty Further company coverage: [CSGN.S] (Reporting by Brenna Hughes Neghaiwi) ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)).  Full Article

U.S. SEC: Credit Suisse paying $90 mln fine for misrepresenting performance metric
Wednesday, 5 Oct 2016 01:27pm EDT 

U.S. SEC : Credit Suisse paying $90 million penalty for misrepresenting performance metric . Credit Suisse to admit wrongdoing to settle charges that it misrepresented how it determined key performance metric of wealth management business . SEC investigation found that Credit Suisse veered from its publicly disclosed methodology for determining net new assets . Former Credit Suisse executive agreed to settle charges that he was a cause of Credit Suisse’s violations .Rolf Bögli, who served as COO of the firm’s private banking division, pressured employees to classify certain high net worth client assets as NNA despite concerns raised by employees.  Full Article

Credit Suisse chairman says merger with Deutsche Bank not possible
Wednesday, 31 Aug 2016 06:41am EDT 

Credit Suisse chairman says : Merger with Deutsche Bank is not possible, would not be constructive . Will not charge retail customers for deposits at current Swiss interest rates Further company coverage: [CSGN.S] (Reporting by Arno Schuetze) ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

Credit Suisse CEO says we maintain 2018 objectives
Thursday, 28 Jul 2016 05:10am EDT 

: Credit Suisse CEO says we maintain the objectives we have announced for 2018 . Credit Suisse CEO says the bank is not a takeover target . Credit suisse CFO says bank wants to get rid of strategic resolution unit's assets as quickly as possible, even if it costs a bit more . Credit Suisse CEO says there’s a lot of upside from here should market conditions normalize . Credit Suisse CEO says in net terms, wouldn’t say earnings from Brexit were hugely material, what we avoided through preparation was a major loss for the bank . Credit Suisse ceo says on 1MDB, our position is to not get into commentary about any issues, we cooperate with any inquiries from authorities . Credit Suisse ceo says for the time being we have no plans to do partial ipos of any of the bank’s other business divisions . Credit Suisse CEO says we have a center in dublin and luxembourg so have optionality if uk loses european passport for financial services Further company coverage: [CSGN.S] (Reporting by Zurich Newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

Credit Suisse says revenue guidance same as in Q1
Thursday, 28 Jul 2016 04:27am EDT 

Credit Suisse Group AG : Cfo says would be surprised if we don’t make significant progress in the course of the year in winding down RWAs in strategic resolution unit -analyst call . Cfo says would expect further significant restructuring costs in h2 . Ceo says in terms of revenue, guidance is the same as in q1 .Ceo says Brexit underlined the attractiveness of switzerland.  Full Article

Credit Suisse CEO says bank in perfectly adequate capital position -BBG TV
Thursday, 28 Jul 2016 02:00am EDT 

: Credit Suisse CEO Thiam says in short term no immediate impact from Brexit - Bloomberg TV . Credit Suisse CEO Thiam says bank in perfectly adequate capital position Further company coverage: [CSGN.S] (Reporting by Zurich Newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

Credit Suisse CFO says on track for 6,000 net job reduction in 2016
Thursday, 28 Jul 2016 01:45am EDT 

Credit Suisse Group Ag : CFO says would expect to see further progress in leverage ratio later this year -media call . CFO says on track for 6,000 net job reduction in 2016 . CFO says made progress in Q2 towards 1 billion Sfr asset disposal target, sales were not material Further company coverage: [CSGN.S] (Reporting by Zurich Newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

Moody's: Brexit-related costs and uncertainties pose fresh challenge to non-UK GIBS' pan-European business models
Thursday, 7 Jul 2016 02:16am EDT 

Moody's On Brexit : Brexit-related costs and uncertainties pose fresh challenge to non-UK GIBS' pan-European business models . Sees non-UK global investment banks to incur additional costs,revenue pressures as they reconfigure their European units in response to brexit . Expects any immediate revenue loss to be modest, Brexit's lasting credit effects on gibs to depend on nature of the new EU/UK trade model .Expects added operational challenges and costs to be manageable in the context of their global earnings and operations.  Full Article

FDIC reaches $190 million settlement with 8 banks, finance companies over Countrywide RMBS
Thursday, 2 Jun 2016 10:13am EDT 

: Fdic announces $190 million settlement of residential mortgage-backed securities claims with eight financial institutions . Fdic annouces settlements with Barclays, BNP Paribas Credit Suisse Deutsche Bank Edward Jones, Goldman Sachs rbs, UBS . Fdic says accord resolves claims over alleged misrepresentations for 21 countrywide rmbs bought by five failed banks.  Full Article

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