Credit Suisse Capital Metrics and Core Results 9M16
International Wealth Management
Robust performance in challenging markets and continued NNA momentum
Adjusted key financials in CHF mn
3Q16 results
Higher Wealth Management revenues vs. 3Q15 offset by growth
investments and higher risk and compliance costs
Asset Management with higher pre-tax income vs. 3Q15 reflecting
effective cost control
Key messages
3Q16
2016
3Q15 A 2Q16 A 3Q15
Private Banking
789
811
785
(3)%
+1%
Asset Management
292
334
308
(13)%
(5)%
Net revenues
1,081
1,145 1,093
(6)%
(1)%
Provision for credit losses
16
11
Total operating expenses
840
869
835
(3)%
+1%
Pre-tax income
241
260
247
(7)%
(2)%
Cost/income ratio
78%
76%
76%
Return on regulatory capital
20%
22%
21%
PB
Key metrics in CHF bn
3Q16
2Q16
3Q15 A 2Q16 A 3Q15
Adj. net margin in bps
25
27
28
Net new assets
4.4
5.4
1.7
Mandates penetration
29%
29%
29%
Number of RM
1,160
1,170 1,190
(10)
(30)
Net loans
43
43
41
+5%
Net new assets AM
5.0
3.5
5.6
Risk-weighted assets
33
34
32
+4%
Leverage exposure
89
95
94
(7)%
(5)%
Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix
Continued NNA momentum across businesses and regions
Wealth Management
Strong net interest income reflecting cumulative benefit of loan growth
and higher margins
Recurring revenues down vs. 3Q15 but broadly stabilized for last three
quarters, while transaction revenues remained adversely affected in a
challenging market environment
NNA of CHF 4.4 bn (net of regularization outflows of CHF 1.5 bn)
with inflows from emerging markets and Europe; AuM up 9% YoY
Significant upgrade of RMS with senior and experienced hires offset
by managed reductions and attrition
Asset Management
24% higher pre-tax income vs. 3Q15 driven by 10% lower expenses,
resulting in a 4 pp. improvement in cost/income ratio
Higher investment-related gains and broadly stable management fees
were offset by lower investment and partnership income vs. 3Q15
NNA of CHF 5.0 bn with strong contribution from emerging markets
and fixed income products
CREDIT SUISSE
November 2016
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