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
10:59a CREDIT SUISSE : 'Getting Over Globalization' - Outlook for 2017
09:00a Pune Launches Its First Community of Thought Leaders in the FinTech Space
01/21 CREDIT SUISSE : raises CNOOC to HK$13
01/20 CREDIT SUISSE : Do eight men really control the same wealth as the poorest half ..
01/20 CREDIT SUISSE : Default No Surprise, Says IMF
01/20 CREDIT SUISSE : Initial public offerings scheduled to debut next week
01/20 No 'joke' - SocGen admits fault, pays $50 million in U.S. fraud case
01/20 CREDIT SUISSE : Oxfam report says that 8 men are as rich as half of the world&rs..
01/20 CREDIT SUISSE : 3 O.C. men plead guilty to not telling IRS about foreign bank ac..
01/20 CREDIT SUISSE : CS cuts Beijing Airport to HK$8.1
More news
Sector news : Diversified Investment Services
01/10DJMcDonald's Pulls Back In China With Deal -- WSJ
01/09DJMcDonald's Sells Controlling Stake in China Business Valued at Up to $2.08 Bi..
01/09DJMcDonald's Sells Controlling Stake in China Business Valued at Up to $2.08 Bi..
01/09DJMcDonald's Sells Controlling Stake in China Business Valued at Up to $2.08 Bi..
01/09DJMcDonald's Sells Controlling Stake in China Business Valued at Up to $2.08 Bi..
More sector news : Diversified Investment Services
News from SeekingAlpha
01/19 The SEC's Reaction To High Frequency Trading
01/19 WALL STREET BREAKFAST : First ECB Meeting Of The Year
01/18 Credit Suisse to take $2B Q4 charge as it settles mortgage charges
01/16 CHART OF THE DAY : JPMorgan Dominates Big Bank Stocks
01/05 When You Buy An ETN, You Are Lending Money To A Bank
Advertisement
Financials ( CHF)
Sales 2016 20 312 M
EBIT 2016 -366 M
Net income 2016 -849 M
Debt 2016 -
Yield 2016 4,04%
P/E ratio 2016 -
P/E ratio 2017 21,00
Capi. / Sales 2016 1,60x
Capi. / Sales 2017 1,51x
Capitalization 32 498 M
More Financials
Chart CREDIT SUISSE GROUP AG
Duration : Period :
Credit Suisse Group AG Technical Analysis Chart | CSGN | CH0012138530 | 4-Traders
Full-screen chart
Technical analysis trends CREDIT SUISSE GRO...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 15,6  CHF
Spread / Average Target 0,09%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Tidjane Thiam Chief Executive Officer
Urs Rohner Chairman
Pierre-Olivier Marie Bouée Chief Operating Officer
David R. Mathers Chief Financial Officer
Noreen Doyle Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CREDIT SUISSE GROUP AG6.43%32 410
CITIC LTD1.98%42 459
MACQUARIE GROUP LTD-2.63%21 810
NATIXIS2.39%18 443
CHINA HUARONG ASSET MA..5.73%14 851
INVESTEC PLC5.50%7 006
More Results