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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Credit Suisse Group AG    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
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Credit Suisse : COVID-19 bridging loans - statement by the Group CEO of Credit Suisse

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03/25/2020 | 12:23pm EDT
COVID-19 bridging loans - statement by the Group CEO of Credit Suisse
25.03.2020

Inquiries:

Media Relations
Credit Suisse
+41 844 33 88 44
media.relations@credit-suisse.com

Thomas Gottstein, Group CEO of Credit Suisse, commented as follows on the details presented today regarding the COVID-19 bridging loans from the Swiss federal government:

'We are pleased that we were able to play an active role at an early stage in the development of the bridging loan solution for Swiss companies that was presented today. We are ready to process loan applications in a rapid and straightforward manner from 8 a.m. tomorrow. The loan conditions are favorable because the aim is to support SMEs and the Swiss economy. Credit Suisse does not want to earn income from this program. However, if this should be the case, we will donate any net profit generated to projects to support Swiss companies that are facing difficulties.'

Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47'860 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Disclaimer
The information provided herein was produced by Credit Suisse Group AG and/or its affiliates (hereafter 'CS') with the greatest of care and to the best of its knowledge and belief. The information and views expressed herein are those of CS at the time of writing and are subject to change at any time without notice. They are derived from sources believed to be reliable. CS provides no guarantee with regard to the content and completeness of the information and where legally possible does not accept any liability for losses that might arise from making use of the information.

Copyright © 1997-2020 CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.

Disclaimer

Credit Suisse Group AG published this content on 25 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2020 17:22:07 UTC

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Financials (CHF)
Sales 2020 21 022 M
EBIT 2020 4 361 M
Net income 2020 2 996 M
Debt 2020 78 809 M
Yield 2020 3,14%
P/E ratio 2020 6,34x
P/E ratio 2021 5,61x
EV / Sales2020 4,71x
EV / Sales2021 4,57x
Capitalization 20 274 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 12,10  CHF
Last Close Price 8,32  CHF
Spread / Highest target 104%
Spread / Average Target 45,4%
Spread / Lowest Target -62,3%
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Managers
NameTitle
Thomas Gottstein Chief Executive Officer
Urs Rohner Chairman
James Walker Chief Operating Officer
David Richard Mathers Chief Financial Officer
John Ivan Tiner Independent Non-Executive Director
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