Credit Suisse : 2021 Annual Report Credit Suisse AG (Bank)

Annual Report 2021

Credit Suisse Group AG

Credit Suisse AG









Key metrics

			in / end of		% change
	2021	2020	2019	21 / 20	20 / 19
Credit Suisse (CHF million)
Net revenues	22,696	22,389	22,484	1	0
Provision for credit losses	4,205	1,096	324	284	238
Total operating expenses	19,091	17,826	17,440	7	2
Income/(loss) before taxes	(600)	3,467	4,720	-	(27)
Net income/(loss) attributable to shareholders	(1,650)	2,669	3,419	-	(22)
Cost/income ratio (%)	84.1	79.6	77.6	-	-
Effective tax rate (%)	(171.0)	23.1	27.4	-	-
Basic earnings/(loss) per share (CHF)	(0.67)	1.09	1.35	-	(19)
Diluted earnings/(loss) per share (CHF)	(0.67)	1.06	1.32	-	(20)
Return on equity (%)	(3.8)	5.9	7.7	-	-
Return on tangible equity (%)	(4.2)	6.6	8.7	-	-
Assets under management and net new assets (CHF billion)
Assets under management	1,614.0	1,511.9	1,507.2	6.8	0.3
Net new assets	30.9	42.0	79.3	(26.4)	(47.0)
Balance sheet statistics (CHF million)
Total assets 1	755,833	818,965	801,829	(8)	2
Net loans	291,686	291,908	296,779	0	(2)
Total shareholders' equity	43,954	42,677	43,644	3	(2)
Tangible shareholders' equity	40,761	38,014	38,690	7	(2)
Basel III regulatory capital and leverage statistics (%)
CET1 ratio	14.4	12.9	12.7	-	-
CET1 leverage ratio	4.3	4.3	4.0	-	-
Tier 1 leverage ratio	6.1	6.3	5.5	-	-
Share information
Shares outstanding (million)	2,569.7	2,406.1	2,436.2	7	(1)
of which common shares issued	2,650.7	2,447.7	2,556.0	8	(4)
of which treasury shares	(81.0)	(41.6)	(119.8)	95	(65)
Book value per share (CHF)	17.10	17.74	17.91	(4)	(1)
Tangible book value per share (CHF)	15.86	15.80	15.88	0	(1)
Market capitalization (CHF million)	23,295	27,904	32,451	(17)	(14)
Dividend per share (CHF)	0.10	0.10	0.2776	0	(64)
Number of employees (full-time equivalents)
Number of employees	50,110	48,770	47,860	3	2

See relevant tables for additional information on these metrics.

1 Prior periods have been revised. Refer to "Note 1 - Summary of significant accounting policies - Revisions of prior period financial statements" in VI - Consolidated financial statements - Credit Suisse Group for further information.







Annual Report 2021

Credit Suisse Group AG

Credit Suisse AG







Credit Suisse -

Annual Reporting Suite

Annual Report 2021

Credit Suisse Group AG

Credit Suisse AG

Annual Report

The Annual Report is a detailed pres­ entation of Credit Suisse Group's com­ pany structure, corporate governance, compensation­ ­practices and treasury and risk management ­framework, and it includes a review of Credit Suisse Group's operating­ and financial results accompanied by its annual financial statements.

credit-suisse.com/ar

Sustainability

Report 2021

Sustainability Report

The Sustainability Report explains how Credit Suisse's commitments and aspi­ rations in this area are put into practice as a key component of its operations.

credit-suisse.com/sustainabilityreport

Credit Suisse Apps -

Available in the App Store and Google Play Store

Credit Suisse Direct

With the Credit Suisse Direct app for smartphones and tablets you have all the advantages of mobile banking at your fingertips - anytime, anywhere.

Whether you want to pay bills, transfer account, trade securities, check your credit card details or follow your safe­ keeping account in real time or catch up on financial information.

Investor

Relations

Investor Relations

allows investors, analysts, media and other interested parties to remain up to date with relevant online and offline financial ­information on Credit Suisse.

For the purposes of this report, unless the context otherwise requires, the terms "Credit Suisse Group", "Credit Suisse", the "Group", "we", "us" and "our" mean Credit Suisse Group AG and its consolidated subsidiaries. The business of Credit Suisse AG, the direct bank subsidiary of the Group, is substan­ tially similar to the Group, and we use these terms to refer to both when the subject is the same or substantially similar. We use the term the "Bank" when we are referring only to Credit Suisse AG and its consolidated subsidiaries. We use the term the "Bank parent company" when we are referring only to the standalone parent entity Credit Suisse AG. Abbreviations and selected terms are explained in the List of abbreviations and the Glossary in the back of this report. Publications referenced in this report, whether via website links or otherwise, are not incorporated into this report. The English language version of this report is the controlling version. In various tables, use of "-" indicates not meaningful or not applicable.







4 Message from the Chairman and the Chief Executive Officer

1. I - Information on the company
2. Strategy

12 Divisions

1. Regulation and supervision

1. Risk factors

1. II - Operating and financial review
2. Operating environment

56 Credit Suisse

1. Swiss Universal Bank

1. International Wealth Management

1. Asia Pacific

1. Asset Management

1. Investment Bank

1. Corporate Center

1. Assets under management

1. Critical accounting estimates

111 III - Treasury, Risk, Balance sheet and Off-balance sheet

112 Liquidity and funding management

121 Capital management

138 Risk management

180 Balance sheet and off-balance sheet

183 IV - Corporate Governance

239 V - Compensation

281 VI - Consolidated financial statements - Credit Suisse Group

435 VII - Parent company financial statements - Credit Suisse Group

455 VIII - Consolidated financial statements - Credit Suisse (Bank)

531 IX - Parent company financial statements - Credit Suisse (Bank)

577 X - Additional information

Appendix

A-2	Selected five-year information
A-3	List of abbreviations
A-5	Glossary
A-9	Investor information
A-11	Financial calendar and
	contacts