Credit Suisse Group

Credit Suisse is a financial services provider based in Switzerland. Co. is active as an integrated bank. Co. operates through two global divisions, Private Banking and Corporate & Institutional Banking. Co. offers comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients primarily domiciled in Switzerland. Co. maintains operations in three regionally focused divisions: Swiss Universal Bank, Asia Pacific and International Wealth Management serving Western Europe, Central and Eastern Europe, Latin America and Africa.
  • TickerCSGN
  • ISINCH0012138530
  • ExchangeSix Swiss Exchange
  • SectorBanks
  • CountrySwitzerland

Analysts

Johann Scholtz

Morningstar | Wealth Management Business Earns Credit Suisse a Narrow Moat

The profitability of Credit Suisse’s core businesses comfortably exceeds its cost of capital; we estimate a midcycle return on equity of 12% compared with our cost of capital estimate of 10%. A few issues have concealed the company’s true profitability. As part of the process of derisking the business away from volatile sales and trading, Credit Suisse has run down a massive noncore book of EUR 130 billion to EUR 20 billion since 2015, incurring cumulative before-tax losses of EUR 15 billion in the process. To add insult to injury, Credit Suisse has incurred legal expenses of CHF 7 billion ove...

Johann Scholtz

Wealth Management Business Earns Credit Suisse a Narrow Moat

Credit Suisse reported net profit of CHF 749 billion for the first quarter of 2019, which is 8% higher than the first quarter of 2018 and 11% higher than consensus expectations for the first quarter. The increase was, however, solely the result of a lower tax rate--pretax profits of CHF 1.1 billion was stable compared with the first quarter of 2018. We are looking for a full-year increase of 39% in pretax profits, which may look a bit rich considering the flat first quarter. We do, however, high...

Johann Scholtz

Morningstar | New CSGN Company Report

The profitability of Credit Suisse’s core businesses comfortably exceeds its cost of capital; we estimate a midcycle return on equity of 12% compared with our cost of capital estimate of 10%. A few issues have concealed the company’s true profitability. As part of the process of derisking the business away from volatile sales and trading, Credit Suisse has run down a massive noncore book of EUR 130 billion to EUR 20 billion since 2015, incurring cumulative before-tax losses of EUR 15 billion in the process. To add insult to injury, Credit Suisse has incurred legal expenses of CHF 7 billion ove...

Johann Scholtz

New CSGN Company Report

Credit Suisse reported net profit of CHF 749 billion for the first quarter of 2019, which is 8% higher than the first quarter of 2018 and 11% higher than consensus expectations for the first quarter. The increase was, however, solely the result of a lower tax rate--pretax profits of CHF 1.1 billion was stable compared with the first quarter of 2018. We are looking for a full-year increase of 39% in pretax profits, which may look a bit rich considering the flat first quarter. We do, however, high...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2019

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Credit Suisse Group AG: Q1 2019 results: Challenging market environment pressures revenues, but is mitigated by continued cost discipline

Our credit view of CS's first quarter 2019 results, including an analysis on revenue and cost trends across its segments.

Credit Suisse Group AG: Q4 2018 results: Sustained lower cost base helps withstand market challenges

Our credit view of CS's fourth quarter 2018 results, including an analysis on revenue and cost trends across its segments.

Moody's: Global investment banks need to become agile to tackle fintech threat

Global investment banks (GIBs) face challenges from more agile financial technology (fintech) competitors that are not burdened by regulation, inflexible IT infrastructures and low interest rates, Moody's Investors Service says in a new report. However, Moody's thinks the GIBs on the whole come ...

Credit Suisse Group AG: Q3 2018 results: Stable wealth management and Swiss universal banking businesses offset Global Markets weakness

Our credit view of CS's third quarter 2018 results, including an analysis on revenue and cost trends across its segments.

Credit Suisse Group AG: Update to credit analysis

Our credit view behind Credit Suisse's ratings, taking account of its strong global wealth management and domestic Swiss franchises mitigating risks from large capital markets activities.

Johann Scholtz

Morningstar | Wealth Management Business Earns Credit Suisse a Narrow Moat

The profitability of Credit Suisse’s core businesses comfortably exceeds its cost of capital; we estimate a midcycle return on equity of 12% compared with our cost of capital estimate of 10%. A few issues have concealed the company’s true profitability. As part of the process of derisking the business away from volatile sales and trading, Credit Suisse has run down a massive noncore book of EUR 130 billion to EUR 20 billion since 2015, incurring cumulative before-tax losses of EUR 15 billion in the process. To add insult to injury, Credit Suisse has incurred legal expenses of CHF 7 billion ove...

Johann Scholtz

Wealth Management Business Earns Credit Suisse a Narrow Moat

Credit Suisse reported net profit of CHF 749 billion for the first quarter of 2019, which is 8% higher than the first quarter of 2018 and 11% higher than consensus expectations for the first quarter. The increase was, however, solely the result of a lower tax rate--pretax profits of CHF 1.1 billion was stable compared with the first quarter of 2018. We are looking for a full-year increase of 39% in pretax profits, which may look a bit rich considering the flat first quarter. We do, however, high...

Johann Scholtz

Morningstar | New CSGN Company Report

The profitability of Credit Suisse’s core businesses comfortably exceeds its cost of capital; we estimate a midcycle return on equity of 12% compared with our cost of capital estimate of 10%. A few issues have concealed the company’s true profitability. As part of the process of derisking the business away from volatile sales and trading, Credit Suisse has run down a massive noncore book of EUR 130 billion to EUR 20 billion since 2015, incurring cumulative before-tax losses of EUR 15 billion in the process. To add insult to injury, Credit Suisse has incurred legal expenses of CHF 7 billion ove...

Johann Scholtz

New CSGN Company Report

Credit Suisse reported net profit of CHF 749 billion for the first quarter of 2019, which is 8% higher than the first quarter of 2018 and 11% higher than consensus expectations for the first quarter. The increase was, however, solely the result of a lower tax rate--pretax profits of CHF 1.1 billion was stable compared with the first quarter of 2018. We are looking for a full-year increase of 39% in pretax profits, which may look a bit rich considering the flat first quarter. We do, however, high...

Jean Sassus ...
  • Steven Gould

Credit Suisse : Necessary revenue growth mainly depends on markets

>RoTE target = 10%: a wager on revenues - Credit Suisse has maintained its RoTE target of 10% in 2019 after 8% in Q1. Since costs in Q1 (CHF 4.2bn) were compatible with a 2019 target of CHF 16.4-16.9bn, this wager is mainly dependent on revenues. To meet this target, 2019 revenues will have to be around 7% higher than the consensus forecast. However, their volatility calls for caution: the bank acknowledged that January 2019 was one of the worst months in many years, ...

1 director sold

A director at Credit Suisse Group Ag sold 48,000 shares at 12.105CHF and the significance rating of the trade was 89/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2019

...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2019

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Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/03/2019

Un examen objectif des moteurs de progression des indices (anticipations de croissance macroéconomique, dynamique des BPA, évolution des conditions monétaires et coût du capital) nous amène à penser que la dynamique observée depuis le début de l’année ne peut se maintenir à court terme. Bref, le marché (Stoxx 600) est en avance sur ses temps de passage et devrait entrer dans une bande de fluctuation que nous estimons comprise entre 355 et 384 points. En conséquence, l’attitude la plus...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/21/2019

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Thanks to a better fundamental star rating, CREDIT SUISSE GROUP AG sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to CREDIT SUISSE GROUP AG (CH), active in the Money Center Banks industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date April 12, 2019, the closing price was CHF 12.91 and its expected value was estimated at CHF 12.03.

Ibrahim Firdaus

Credit Suisse

Ibrahim Firdaus

Credit Suisse

Ibrahim Firdaus

Credit Suisse

Ibrahim Firdaus

Credit Suisse

MarketLine Department

Morgan Stanley - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Morgan Stanley Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Morgan Stanley since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

MarketLine Department

Nomura Holdings, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Nomura Holdings, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Nomura Holdings, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advanta...

MarketLine Department

Mediobanca Banca di Credito Finanziario S.p.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Mediobanca Banca di Credito Finanziario S.p.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Mediobanca Banca di Credito Finanziario S.p.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by ...

MarketLine Department

Deutsche Bank AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Deutsche Bank AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Deutsche Bank AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key H...

MarketLine Department

BNP Paribas SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BNP Paribas SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BNP Paribas SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

Crédit Suisse Group – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Matthieu DRIOL

Short term view - CREDIT SUISSE GROUP : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at CHF 12.040. The background trend would be questioned should prices rise above CHF 15.440.

Matthieu DRIOL

Analyse court terme - CREDIT SUISSE GROUP : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 12,040 CHF. La tendance de fond serait remise en cause en cas de franchissement de 15,440 CHF.

Matthieu DRIOL

Analyse court terme - CREDIT SUISSE GROUP : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 12,040 CHF. La tendance de fond serait remise en cause en cas de franchissement de 15,440 CHF.

Matthieu DRIOL

Short term view - CREDIT SUISSE GROUP : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at CHF 12.040. The background trend would be questioned should prices rise above CHF 15.440.

Matthieu DRIOL

Medium term view - CREDIT SUISSE GROUP : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at CHF 10.865, then CHF 8.851. Passing CHF 16.200 would question the continuation of the fall.

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