Credit Suisse Results Presentation Deck
Wealth Management
4022 pre-tax loss driven by lower revenues, mainly reflecting client asset outflows, and higher costs
4Q22
3Q22 4Q21 A 4Q21
2022 2021 Δ 2021
Revenues
PCL/
Costs
Profitability
AuM
Balance
Sheet
in CHF mn
16
Net interest income
Recurring commissions and fees
Transaction-based
Adjusted net revenues
Adjusted provision for credit
losses
Adjusted total operating expenses
Adjusted pre-tax income
Reported pre-tax income
Adjusted RoRC+
Reported RoRC+
Adjusted cost/income ratio
Adjusted net margin in bps
Assets under management in CHF bn
Net new assets in CHF bn
Net loans in CHF bn
Risk-weighted assets in CHF bn
Leverage exposure in CHF bn
416
360
331
1,107
(11)
1,273 1,270
(155)
(199)
(6)%
(7)%
115%
(11)
540
(92.7)
615
382
357
1,355
78
55
179
7
78
21
3%
1%
94%
5
502 (17)%
432 (17)%
413 (20)%
1,345 (18)%
89
63
231
(7)
1,214
138
157
4%
5%
90%
7
635
743
(6.4) (2.9)
5%
n/m
n/m
(18)
(27)%
103
60
(24)%
(9)%
233 (23)%
2,103
1,570
1,744
5,412
5,154
249
(631)
2%
(5)%
95%
4
540
(95.7)
78
55
179
2,110
1,813
2,481
6,400
4,616
1,784
2,307
14%
18%
72%
24
743
10.5
103
60
233
(13)%
(30) %
(15)%
12%
(86) %
n/m
(20)
(27)%
(24)%
(9)%
(23)%
Adjusted net revenues down 18% vs. 4Q21
▪ Net interest income down 17%, mainly reflecting lower deposit and loan
volumes and higher funding costs, partly offset by higher deposit margins
Recurring commissions and fees decline 17% reflecting lower average
AuM
▪ Transaction-based revenues down 20% due to subdued client activity and
mark-to-market losses in APAC Financing of CHF 31 mn¹
Adjusted operating expenses up 5% vs. 4Q21
mainly due to higher general and administrative expenses reflecting higher
allocated corporate function costs; actions undertaken in 4Q22 to reduce
costs into 2023
Adjusted pre-tax loss of CHF 155 mn
Reported pre-tax loss of CHF 199 mn included a real estate sale gain of
CHF 122 mn, a loss related to the equity investments in Allfunds Group and
SIX Group of CHF 77 mn and 10 mn, respectively, and restructuring
expenses of CHF 73 mn
Net assets outflows of CHF 92.7 bn
~2/3rd of 4Q22 net asset outflows in October, with ~60% of NNA outflows in
the quarter driven by deposit outflows
RMS Number of relationship managers
1,790
1,880 1,890
(5)% 1,790 1,890
(5)%
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 4Q22 mark-to-market losses of CHF 31 mn (net of CHF (17) mn of hedges); 4021 included
mark-to-market losses of CHF (0) mn (including CHF 9 mn of hedges)
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