Credit Suisse Risk Organization Strategic Goals and Performance
Results excluding certain items included in our reported results are non-GAAP financial measures. Following the reorganization implemented at the beginning of 2022, we have amended the
presentation of our adjusted results. Management believes that such results provide a useful presentation of our operating results for purposes of assessing our Group and divisional performance
consistently over time, on a basis that excludes items that management does not consider representative of our underlying performance. Provided below is a reconciliation of our adjusted results to
the most directly comparable US GAAP measures.
Reconciliation of adjustment items
Group (CHF million)
2021
Wealth Management (CHF million)
1Q22
4Q21
3Q21
2Q21
2021
2019
Provision for credit losses
4,205
Net revenues
1,177
1,377
1,656
1,913
7,031
7,425
Archegos
(4,307)
Real estate (gains)/losses
(25)
(19)
(19)
(49)
Adjusted provision for credit losses
(102)
(Gains)/losses on business sales
(17)
41
24
Major litigation recovery
(49)
(49)
Gain related to InvestLab transfer
(327)
(Gain)/loss on equity investment in Allfunds Group
353
(31)
(130)
(317)
(622)
(Gain)/loss on equity investment in SIX Group AG
35
35
(249)
Adjusted net revenues
1,506
1,345
1,567
1,547
6,400
6,800
Provision for credit losses
24
(7)
18
(24)
78
Total operating expenses
1,510
1,227
1,236
1,167
4,724
4,739
Restructuring expenses
(10)
(19)
Major litigation provisions
(230)
(3)
(70)
(62)
27
Expenses related to real estate disposals
(3)
(7)
(19)
Expenses related to equity investment in Allfunds Group
(1)
(19)
(20)
Adjusted total operating expenses
1,270
1,214
1,165
1,139
4,616
4,747
Income/(loss) before taxes
(357)
157
402
770
2,307
2,608
Adjusted income/(loss) before taxes
212
138
384
432
1,784
1,975
61
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