Fourth Quarter and Full Year 2016 Results Presentation
Notes
General notes
Specific notes
Throughout the presentation rounding differences may occur
All risk-weighted assets (RWA) and leverage exposure figures shown in this presentation are as of the end of the respective period and
on a "look-through" basis
Gross and net margins are shown in basis points (bps)
Gross margin = adj. net revenues annualized / average AuM; net margin = adj. pre-tax income annualized / average AuM
Mandates penetration reflects advisory and discretionary mandates as percentage of total AuM, excluding AuM from the external asset
manager (EAM) business
* "Adjusted operating expenses at constant FX rates" include adjustments as made in all our disclosures for restructuring expenses, major litigation
expenses and a goodwill impairment taken in 4Q15 as well as adjustments for FX, applying the following main currency exchange rates for 1Q15:
USD/CHF 0.9465, EUR/CHF 1.0482, GBP/CHF 1.4296, 2Q15: USD/CHF 0.9383, EUR/CHF 1.0418, GBP/CHF 1.4497, 3Q15:
USD/CHF 0.9684, EUR/CHF 1.0787, GBP/CHF 1.4891, 4Q15: USD/CHF 1.0000, EUR/CHF 1.0851, GBP/CHF 1.5123, 1Q16:
USD/CHF 0.9928, EUR/CHF 1.0941, GBP/CHF 1.4060, 2016: USD/CHF 0.9756, EUR/CHF 1.0956, GBP/CHF 1.3845, 3Q16:
USD/CHF 0.9728, EUR/CHF 1.0882, GBP/CHF 1.2764, 4Q16: USD/CHF 1.0101, EUR/CHF 1.0798, GBP/CHF 1.2451. These currency
exchange rates are unweighted, i.e. a straight line average of monthly rates. We apply this calculation consistently for the periods under review.
+ Regulatory capital reflects the worst of 10% of RWA and 3.5% of leverage exposure. Return on regulatory capital is based on (adjusted) returns
after tax assuming a tax rate of 30% for all periods and capital allocated based on the worst of 10% of average RWA and 3.5% of average
leverage exposure. For Global Markets and Investment Banking & Capital Markets, return on regulatory capital is based on US dollar denominated
numbers.
CREDIT SUISSE
Abbreviations
=
=
=
=
=
= Assets under Management; bps = basis points;
DCM Debt Capital Markets; DOJ Department of Justice;
Global Markets; IB = Investment Banking;
AM
Adj. = Adjusted;
Asset Management;
AuM
APAC = Asia Pacific;
Corp. Ctr. Corporate Center; C&IB = Corporate & Institutional Banking;
EAM External Asset Manager; ECM Equity Capital Markets; GM
Investment Banking & Capital Markets; IWM International Wealth Management; n/m not meaningful;
NNA Net new assets; PB Private Banking; pp. percentage points; PTI Pre-tax income; QoQ = Quarter-on-quarter;
RM
RMBS Residential Mortgage-Backed Securities; SMG Systematic Market-Making Group;
SUB Swiss Universal Bank; UHNWI = Ultra High Net Worth Individuals;
IBCM
Relationship Manager(s);
SRU = Strategic Resolution Unit;
WM Wealth Management;
=
YoY Year-on-year
=
=
=
February 14, 2017
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