Credit Suisse Results Presentation Deck slide image

Credit Suisse Results Presentation Deck

Aiming to reduce Group-wide absolute cost base to CHF <15.5 bn¹ in the medium term 16 Group adjusted operating expenses at constant 2021 FX rates, in CHF bn 2Q22 1Q22 16.8 4.2 4.2 1H22 Annualized ~16.5-17.0 Existing Ambition ~(1.0)-(1.5) New cost savings target <15.5 Medium-term Ambition 1H22 annualized expenses of CHF 16.8 bn¹ in line with current guidance of CHF 16.5-17.0 bn. These include CHF 331 mn of incremental investments relating to implementation of the Group's strategy, including increased remediation spend in Risk, Compliance and infrastructure Accelerating digital transformation including the simplification of front-to-back processes, reducing manual data handling and duplication, and increasing the use of scalable cloud-based infrastructure. These initiatives as well as our broader cost efficiency program are expected to lead to a reduction of the absolute cost base to CHF <15.5 bn¹ in the medium-term. Further detail, including incremental restructuring costs, will be provided at our 3Q22 results announcement Note: Results excluding certain items in our reported results are non-GAAP financial measures. See the appendix of this presentation for detailed information and defined terms as well as important presentation and other information relating to non-GAAP financial measures, including reconciliations. 1 Measured using adjusted operating expenses at constant 2021 FX rates CREDIT SUISSE
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