Credit Suisse Capital Metrics and Core Results 9M16
Swisscard deconsolidation impact
Impact of the deconsolidation on the Swiss Universal Bank
SUB adjusted
Swisscard Impact¹
SUB adj. ex
Swisscard
in CHF mn
1Q15
2015
1Q15
2Q15
1Q15
2015
Net interest income
611
685
9
9
602
676
Recurring commissions & fees
412
412
56
59
356
353
Transaction-based revenues
382
349
8
7
374
342
Other revenues
(5)
(7)
(5)
(7)
Net revenues
1,400
1,439
73
75
1,327
1,364
Provision for credit losses
23
33
23
33
Total operating expenses
934
961
61
63
873
898
Pre-tax income
443
445
12
12
12
431
433
Return on regulatory capital+
14%
14%
14%
14%
Appendix -3016
Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation on slides 49/50
This is an illustrative pro-forma presentation of the impact of the deconsolidation of the card issuing business on the historical results of SUB as if it had occurred on December 31, 2014. Given that as of July 1, 2015 the
business has been deconsolidated and transferred to the equity method investment, Swisscard AECS GmbH and the transaction does not qualify for discontinued operations, the historical results are not restated in this respect.
The reduction in pre-tax income in the Private Banking business of Swiss Universal Bank, is offset by the reduction in minority interest from the deconsolidation at the Group level, therefore there is no material impact on the
Group's net income attributable to shareholders. These illustrative figures cannot be seen as being indicative of future trends or results 1 Pro-forma impact of the card issuing business deconsolidation
CREDIT SUISSE
November 2016
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