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 AG    CSGN   CH0012138530

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Credit Suisse Group AG : Credit Suisse steps up efforts to offload risky investment bank assets

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/07/2014 | 09:22am CET

Credit Suisse (>> Credit Suisse Group AG) is stepping up efforts to scale back riskier fixed income areas squeezed by strict new regulation, it said on Tuesday.

Credit Suisse (>> Credit Suisse Group AG) is stepping up efforts to scale back riskier fixed income areas squeezed by strict new regulation, it said on Tuesday.

The move reinforces a push by the Swiss bank to spread risk taking more evenly between its two main units, private banking for the wealthy and investment banking.

Credit Suisse wants the private bank to eventually account for half of the group's risk-weighted assets (RWAs), against around a third currently.

To do so, it is following rivals including UBS (>> UBS AG) by restructuring its investment banking activities, which are under pressure from regulators requiring banks to set aside far more capital to cover risks.

Specifically, Credit Suisse is shrinking its interest rate trading arm, much of which will be transferred to a unit devoted to winding down discontinued business.

Credit Suisse said it planned to cut RWAs in its discontinued businesses by 58 percent by the end of 2015, compared with a target of cutting them by 41 percent previously.

It also plans to slash its leverage in the same areas by 76 percent, compared with 52 percent when it disclosed the plan in October, though the bank has made some changes to what it will transfer to the discontinued unit.

These efforts are twinned with the bank's existing goal to cut spending by more than 4.5 billion Swiss francs ($5 billion)by the end of 2015.

(Reporting by Katharina Bart and Oliver Hirt; Editing by Mark Potter)

Stocks treated in this article : Credit Suisse Group AG, UBS AG
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CREDIT SUISSE GROUP AG
01:00a BONUS WATCH ’17 : Credit Suisse Gets Points For Trying
03/24 CREDIT SUISSE : eyes stock sale over Swiss float
03/24 CREDIT SUISSE : publishes its Annual Report 2016 and agenda for the Annual Gener..
03/23 NUFARM : Potential In M&A And Omega-3
03/22 Mobile Uncertainty Overshadows TPG Telecom
03/22 MCALEESE : Pilots Can’t Fly, Ships Can’t Sail & Trump’s Budget..
03/22 CREDIT SUISSE : Cambridge Semantics Names Carl Reed, Financial Services Data Exp..
03/21 FLETCHER BUILDING : Are Fletcher Building's Losses Under Control?
03/21 Record outbound Canadian M&A gives foreign banks an upper hand
03/21 DOWNER EDI : Brokers Query Downer's Push On Spotless
More news
Sector news : Diversified Investment Services
03/23DJCITIC : 2016 Net Profit Up 3.1% at HK$43.12 Billion
03/16DJCargill to Sell Oil Trading Business to Macquarie
03/15 MACQUARIE : Canadian, Kuwaiti investors take stake in UK's Thames Water
03/14 INVESTEC : expects higher full-year revenue on equity market boost
03/10DJCentral Petroleum Accepts Takeover Offer From Macquarie--Update
More sector news : Diversified Investment Services
News from SeekingAlpha
03/24 WALL STREET BREAKFAST : Art Of The Healthcare Deal
03/24 Credit Suisse reaches MBS settlement
03/23 Credit Suisse down more than 3% on capital raise report
03/22 Credit Suisse Group AG (CS) Presents At Morgan Stanley European Financials Co..
03/22 WALL STREET BREAKFAST : Reevaluating The 'Trump Trade'?
Advertisement
Financials ( CHF)
Sales 2017 21 444 M
EBIT 2017 2 362 M
Net income 2017 1 196 M
Debt 2017 -
Yield 2017 4,64%
P/E ratio 2017 19,09
P/E ratio 2018 10,03
Capi. / Sales 2017 1,42x
Capi. / Sales 2018 1,37x
Capitalization 30 429 M
More Financials
Chart CREDIT SUISSE GROUP AG
Duration : Period :
Credit Suisse Group AG Technical Analysis Chart | CSGN | CH0012138530 | 4-Traders
Full-screen chart
Technical analysis trends CREDIT SUISSE GRO...
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 15,4  CHF
Spread / Average Target 5,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Tidjane Thiam Chief Executive Officer
Urs Rohner Chairman
Pierre-Olivier Marie Bouée Chief Operating Officer
David R. Mathers Chief Financial Officer
Noreen Doyle Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CREDIT SUISSE GROUP AG3.49%30 560
CITIC LTD-0.18%42 100
MACQUARIE GROUP LTD-0.31%22 512
NATIXIS4.09%19 045
CHINA HUARONG ASSET MA..16.13%16 349
INVESTEC PLC11.85%7 485
More Results