2021 Investor Day
Results excluding items included in our reported results are non-GAAP financial measures. During the implementation of our strategy, we will measure the progress
achieved by our underlying business performance. Management believes that such results provide a useful presentation of our operating results for purposes of
assessing our Group and divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our
underlying performance. Provided below is a reconciliation to the most directly comparable US GAAP measures.
Reconciliation of adjustment items (1/3)
Wealth Management¹
Investment Bank (USD)
in CHF bn
Net revenues reported
Real estate (gains)/losses
(Gains)/losses on business sales
Major litigation recovery
Valuation adjustment related to major litigation
Gain related to InvestLab transfer
Gain on equity investment in Allfunds Group
Gain on equity investment in SIX Group AG
Swiss Bank¹
Asset Management
7.0
9M21 2020 2019
9.3
(0.1)
9.0
2018
8.6
2.3
(0.0) (0.0) (0.0)
9M21 2020
3.0
0.0
(0.0)
0.0
2019 2018 9M21 2020 2019
3.4
3.0
8.5 10.2
8.6
(0.2) (0.0)
(0.0)
(0.0)
2018 9M21
8.7
1.1
2020 2019
2018
1.1
1.6
1.5
(0.0)
(0.0)
(0.0)
(0.2)
(0.0)
(0.1)
(0.2)
(0.4)
(0.1)
(0.2)
(0.0)
(0.1) (0.2)
(0.1)
(0.3)
(0.1)
Gain on equity investment in Pfandbriefbank
Impairment on York Capital Management
0.1
0.4
Archegos
0.5
Net revenues adj. excl. sign. items and Archegos
6.6
8.9
8.8
8.5
Provision for credit losses
0.0
0.3
0.1
0.1
2 O
2.1
2.7
2.8
2.9
9.0
10.2
8.6
8.7
1.2
1.3
1.6
1.5
0.0
0.3
0.1
0.1
4.5
0.6
0.1
0.1
0.0
0.0
Archegos
(4.6)
Total operating expenses reported
4.4
6.1
6.2
6.2
1.1
1.6
1.5
1.6
5.6
7.6
7.2
7.5
0.8
1.1
1.2
1.2
Restructuring expenses
(0.0)
(0.0)
(0.1)
(0.0)
(0.0)
(0.1)
(0.1)
(0.1)
(0.4)
(0.0) (0.0)
(0.0)
Major litigation provisions
0.0
0.0
0.0
(0.0)
(0.0) (0.0)
(0.0)
(0.0)
(0.0)
Expenses related to real estate disposals
(0.0)
(0.0)
(0.0)
(0.0)
(0.0) (0.0)
(0.0)
(0.0) (0.1)
(0.0) (0.0)
(0.0)
Expenses related to business sales
(0.0)
Expenses related to equity investment in Allfunds Group
(0.0)
(0.0)
Archegos
(0.0)
Total operating expenses adj. excl. sign. items and Archegos
Pre-tax income/(loss) reported
4.4
6.1
6.2
6.0
1.1
1.5
1.5
1.5
5.6
7.5
7.1
7.1
0.8
1.1
1.2
2.6
2.7
3.1
2.4
1.2
1.1
1.8
1.2
(1.6)
2.0
1.3
1.1
0.2
(0.0)
0.5
Total adjustments, significant items and Archegos
(0.4)
(0.2)
(0.5)
0.1
(0.2)
(0.2)
(0.6)
0.1
5.2
0.1
0.1
0.4
0.1
0.2
0.0
0.1
Pre-tax income/(loss) adj. excl. sign. items and Archegos
2.2
2.5
2.6
2.5
1.0
0.9
1.2
1.3
3.6
2.1
1.4
1.5
0.3
0.2
0.5
ོ་3་
1.1
0.4
0.4
1 Divisional structure from January 1, 2022
CREDIT SUISSE
2021 Investor Day
November 4, 2021
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