Credit Suisse Group AG is a multinational banking and financial services company based in Zurich, Switzerland.
The company has four main business divisions: Investment Banking, Asset Management, Private Banking, and a Shared Services Group.
The bank was founded in 1856 by Alfred Escher under the name Schweizerische Kreditanstalt (Swiss Credit Institution).
Its initial purpose was to help fund Switzerland’s rail system. It then began funding local business projects.
Credit Suisse shifted to retail banking in the 1990’s to meet the growing demands of savings account for the middle-class.
It now has operations in more than 50 countries and a team of over 46,000 individuals from 150 different nations.
Its global structure comprises four regions: Switzerland, Europe, Middle East and Africa, Americas and Asia Pacific.
Credit Suisse Group AG operates as holding company and is set up as a stock corporation registered in Zürich.
Overview
- Chairman: Urs Rohner
- CEO: Brady Dougan
- Industry: Banking, financial services
- Type: Aktiengesellschaft (public)
- Listed on the Swiss and New York Stock Exchanges
- SIX stock symbol: CSGN
- NYSE stock symbol: CS
- Revenue: 25.856 billion CHF (2013)
- Earnings (loss) per share: 1.22 CHF (2013)
- Total assets: 872.806 billion CHF (2013)
- Founded: 1856
- Founder: Alfred Escher
- Headquarters: Paradeplatz 8, Zürich, Switzerland
- Employees: 46,000 (2013)
- Website: https://www.credit-suisse.com
- Contact number: +41 844 33 88 44
| Income statement data (in CHF millions) | 2013 | 2012 |
| Interest and dividend income | 19,556 | 22,090 |
| Interest expense | (11,441) | (14,947) |
| Net interest income | 8,115 | 7,143 |
| Commissions and fees | 13,226 | 12,724 |
| Trading revenues | 2,739 | 1,196 |
| Other revenues | 1,776 | 2,548 |
| Net revenues | 25,856 | 23,611 |
| Total operating expenses | 21,593 | 21,251 |
| Net income | 2,965 | 1,685 |
| Net income attributable to shareholders | 2,326 | 1,349 |
| Comprehensive income | 2,879 | 791 |
| Balance sheet data (in CHF millions) | ||
| Total assets | 872,806 | 924,280 |
| Total liabilities | 825,640 | 881,996 |
| Total shareholders’ equity | 42,164 | 35,498 |
| Total equity | 47,166 | 42,284 |
| Common share data (in CHF) | ||
| Earnings per Common Share – Basic | 1.22 | 0.79 |
| Earnings per Common Share – Diluted | 1.22 | 0.79 |
Source: “Credit Suisse Group AG – Form 20-F”
News about Credit Suisse reported by Market Business News:
July 22, 2014: Credit Suisse posted a 700 million franc ($780 million) loss for the second quarter of 2014, compared to a profit of 1.05 billion franc ($1.17 billion) profit in Q2 2013. The company’s worst quarter in six years was caused by the $2.6 billion settlement made with US authorities for helping Americans dodge taxes.
May 20th, 2014: Credit Suisse pleads guilty to helping American tax cheats, fined $2.6 billion.