Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Credit Suisse Group    CSGN   CH0012138530

CREDIT SUISSE GROUP (CSGN)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Credit Suisse : Up to 70 Swiss private banks fighting for survival - KPMG

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/07/2017 | 03:15pm CET

Some 60 to 70 Swiss private banks are facing serious problems that could force them to close down or sell up, according to a study published on Thursday by consultancy KPMG.

Fighting diminishing profits caused by fierce competition and a global clampdown on tax evasion, these banks must work to cut costs and buy up competitors to reach adequate size.

But many of the affected banks will ultimately have to exit the market, the study concluded.

"I'm convinced that at least half will disappear," KPMG manager Christian Hintermann said, adding many of these banks were now making losses. "It's ultimately a question of how long their owners want to carry these losses."

Some international financial groups were already considering the future of their Swiss private banking subsidiaries, he said.

The study, undertaken by KPMG in collaboration with the University of St. Gallen, examined 85 of 114 Swiss private banks. Switzerland's two biggest banks, UBS (>> UBS Group) and Credit Suisse (>> Credit Suisse Group), were not included.

The study found a maximum of 10 to 15 of the banks would be able to grow and attract new international clients in substantial numbers.

A further 20 to 30 of the banks could have a future as niche operators focusing on particular client groups.

The number of Swiss private banks has already fallen by over a third from 180 in 2005, according to the data.

While many banks had increased assets under management by buying competitors, this did little to boost operational earnings, which had fall during the past decade.

Acquisitions have now become rare after a wave of consolidation in past years, Hintermann said.

Many banks are not interested in making smaller bolt-on purchases, he said, or the owners were too ambitious in the prices they were seeking.

(Reporting by Angelika Gruber; Writing by Brenna Hughes Neghaiwi; Editing by Keith Weir)

Stocks treated in this article : Credit Suisse Group, UBS Group
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CREDIT SUISSE GROUP
09:12a CREDIT SUISSE : Investment Outlook Expects Sustained Growth in 2018; Further Ups..
08:57a CREDIT SUISSE : announces Head of Malaysia Coverage
11/22 OUTFRONT MEDIA INC. (NYSE : OUT) Files An 8-K Entry into a Material Definitive A..
11/22 CREDIT SUISSE : #17-1101 Listing of instrument issued by Credit Suisse AG, Londo..
11/21 CARSALES COM : Takes Korea, Brokers Applaud
11/21 CREDIT SUISSE : says no contact with any Saudi sovereign wealth funds
11/21 KANSAS CITY SOUTHERN : KCS' Brian Hancock to Address the Credit Suisse 5th Annua..
11/21 CREDIT SUISSE : boosts China Equity Research coverage with new hires
11/21 HSBC : completes shares buyback
11/20 Factbox - Impact on banks from Britain's vote to leave the EU
More news
News from SeekingAlpha
11/20 Credit Suisse Group AG 2017 Q3 - Results - Earnings Call Slides
11/20 Blockchain passes Wall Street test
11/20 Mutual funds firms may skip a tax change
11/05 Credit Suisse Group AG 2017 Q3 - Results - Earnings Call Slides
11/02 Credit Suisse Group AG (CS) Q3 2017 Results - Earnings Call Transcript
Financials ( CHF)
Sales 2017 21 039 M
EBIT 2017 2 304 M
Net income 2017 1 349 M
Debt 2017 -
Yield 2017 2,22%
P/E ratio 2017 29,05
P/E ratio 2018 14,65
Capi. / Sales 2017 1,98x
Capi. / Sales 2018 1,89x
Capitalization 41 586 M
Chart CREDIT SUISSE GROUP
Duration : Period :
Credit Suisse Group Technical Analysis Chart | CSGN | CH0012138530 | 4-Traders
Technical analysis trends CREDIT SUISSE GROUP
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 16,9  CHF
Spread / Average Target 3,7%
EPS Revisions
Managers
NameTitle
Tidjane Thiam Chief Executive Officer
Urs Rohner Chairman
Pierre-Olivier Marie Bouée Chief Operating Officer
David R. Mathers Chief Financial Officer
Richard Edward Thornburgh Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CREDIT SUISSE GROUP15.62%42 364
JP MORGAN CHASE & COMPANY14.31%342 254
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD38.78%325 304
BANK OF AMERICA20.95%278 080
WELLS FARGO-1.91%266 401
CHINA CONSTRUCTION BANK CORPORATION30.88%243 007