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Credit Suisse Reports $563 Million Loss in 2021, Wealth AUM $893 billion & Total Assets $1.73 Trillion

12th February 2022 | Hong Kong

Credit Suisse has reported $563 million (CHF 522 million) in pre-tax loss in 2021, impacted by Archegos trading losses, goodwill impairment and litigation provision.  Credit Suisse Wealth Management reported AUM of $893 billion and total group assets of $1.73 trillion.  Credit Suisse Wealth Management business reported 3% growth, growing from CHF 13.6 billion (2020) to CHF 13.9 billion (2021) while Credit Suisse Investment Bank reported CHF 9.71 billion revenue, a CHF 1 million increase from 2020.  Read: Credit Suisse Report: Archegos Family Office Had $120 Billion Total Exposure (AUM ~ Assets under Management)

“ Credit Suisse Reports $563 Million Loss in 2021, Wealth AUM $893 billion & Total Assets $1.73 trillion “


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Thomas Gottstein, Chief Executive Officer of Credit Suisse Group: 

Thomas Gottstein Credit Suisse CEO

” 2021 was a very challenging year for Credit Suisse. Our reported financial results were negatively impacted by the Archegos matter, the impairment of goodwill relating to the Donaldson, Lufkin & Jenrette (DLJ) acquisition in 2000 and litigation provisions, as we look to proactively resolve legacy issues. For the full year, we delivered a resilient underlying* performance, with stable net revenues despite a significant reduction of risk weighted assets and leverage exposure – especially in our IB division – since the end of 1Q21. During the last three quarters of the year, we ran the bank with a constrained risk appetite across all divisions as we took decisive actions to strengthen our overall risk and controls foundation and continued our remediation efforts, including on the Supply Chain Finance Funds matter, where our priority is to return cash to investors. 

Our clear focus remains on the disciplined execution of our new Group strategy as announced in November 2021: strengthening our core and simplifying our organization as we look to invest for growth in key strategic business areas. We intend to continue to operate Credit Suisse Group with a stronger capital base and a CET1 ratio of at least 14%. Over the coming quarters, we expect to implement our strategy progressively. We have set clear financial goals for all our divisions and are now focused on delivering on our strategic objectives. I am confident that we are well-positioned to build a stronger and customer-centric bank that puts risk management at the very core of its DNA in order to deliver sustainable growth and value for investors, clients and colleagues. “


Credit Suisse:

2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM

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