Credit Suisse : Spreadsheets

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April 27, 2022

Reporting structure

&P

Credit Suisse

Credit Suisse (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Net interest income	7,009	7,017	1,534	1,570	1,396	1,448	5,948	1,654	1,416	1,423	1,318	5,811	1,459
Commissions and fees	11,890	11,158	2,927	2,880	2,855	3,191	11,853	3,737	3,158	3,249	3,021	13,165	2,601
Trading revenues	624	1,739	927	1,254	630	484	3,295	1,811	153	618	(151)	2,431	(36)
Other revenues	1,397	2,570	388	490	317	98	1,293	372	376	147	394	1,289	388
Net revenues	20,920	22,484	5,776	6,194	5,198	5,221	22,389	7,574	5,103	5,437	4,582	22,696	4,412
Provision for credit losses	245	324	568	296	94	138	1,096	4,394	(25)	(144)	(20)	4,205	(110)
Compensation and benefits	9,620	10,036	2,316	2,594	2,441	2,539	9,890	2,207	2,356	2,255	2,145	8,963	2,458
General and administrative expenses	5,798	6,128	1,346	1,440	1,458	2,279	6,523	1,376	1,589	2,012	2,182	7,159	2,148
Commission expenses	1,259	1,276	345	313	295	303	1,256	329	325	306	283	1,243	298
Goodwill impairment	0	0	0	0	0	0	0	0	0	0	1,623	1,623	0
Restructuring expenses	626	-	-	-	107	50	157	25	45	-	33	103	46
Total other operating expenses	7,683	7,404	1,691	1,753	1,860	2,632	7,936	1,730	1,959	2,318	4,121	10,128	2,492
Total operating expenses	17,303	17,440	4,007	4,347	4,301	5,171	17,826	3,937	4,315	4,573	6,266	19,091	4,950
Income/(loss) before taxes	3,372	4,720	1,201	1,551	803	(88)	3,467	(757)	813	1,008	(1,664)	(600)	(428)
Income tax expense/(benefit)	1,361	1,295	(110)	391	258	262	801	(526)	566	570	416	1,026	(151)
Net income/(loss)	2,011	3,425	1,311	1,160	545	(350)	2,666	(231)	247	438	(2,080)	(1,626)	(277)
Net income/(loss) attributable to noncontrolling interests	(13)	6	(3)	(2)	(1)	3	(3)	21	(6)	4	5	24	(4)
Net income/(loss) attributable to shareholders	2,024	3,419	1,314	1,162	546	(353)	2,669	(252)	253	434	(2,085)	(1,650)	(273)
Economic profit (CHF million)	-	(280)	(83)	125	(385)	(1,037)	(1,380)	(1,523)	(328)	(185)	(2,215)	(4,251)	(1,326)
Statement of operations metrics (%)
Cost/income ratio	82.7	77.6	69.4	70.2	82.7	99.0	79.6	52.0	84.6	84.1	136.8	84.1	112.2
Effective tax rate	40.4	27.4	(9.2)	25.2	32.1	-	23.1	69.5	69.6	56.5	(25.0)	(171.0)	35.3
Earnings per share (CHF)
Basic earnings/(loss) per share	0.79	1.35	0.53	0.47	0.22	(0.15)	1.09	(0.10)	0.10	0.16	(0.83)	(0.67)	(0.10)
Diluted earnings/(loss) per share	0.77	1.32	0.52	0.46	0.22	(0.15)	1.06	(0.10)	0.10	0.16	(0.83)	(0.67)	(0.10)
Return on equity (%)
Return on equity	4.7	7.7	11.7	9.8	4.8	(3.2)	5.9	(2.3)	2.3	4.0	(18.7)	(3.8)	(2.4)
Return on tangible equity	5.4	8.7	13.1	11.0	5.4	(3.5)	6.6	(2.6)	2.6	4.5	(20.9)	(4.2)	(2.6)
Number of employees (full-time equivalents)
Number of employees	46,240	48,110	48,810	48,950	49,280	49,190	49,190	49,520	49,530	50,140	50,390	50,390	51,030

&P

Credit Suisse Adj

Credit Suisse (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Credit Suisse (CHF million)
Net revenues	20,920	22,484	5,776	6,194	5,198	5,221	22,389	7,574	5,103	5,437	4,582	22,696	4,412
Real estate (gains)/losses	(28)	(251)	0	0	0	(15)	(15)	0	(4)	(4)	(224)	(232)	(164)
(Gains)/losses on business sales	(71)	2	0	0	0	0	0	0	0	42	(13)	29	3
Major litigation recovery	0	0	0	0	0	0	0	0	(49)	0	0	(49)	0
Valuation adjustment related to major litigation	0	0	0	0	0	0	0	0	0	69	0	69	0
Gain related to InvestLab transfer	0	(327)	(268)	0	0	0	(268)	0	0	0	0	0	0
(Gain)/loss on equity investment in Allfunds Group	0	0	0	0	0	(127)	(127)	(144)	(317)	(130)	(31)	(622)	353
(Gain)/loss on equity investment in SIX Group AG	0	(498)	0	0	0	(158)	(158)	0	0	0	70	70	(5)
Gain on equity investment in Pfandbriefbank	0	0	0	(134)	0	0	(134)	0	0	0	0	0	0
Impairment on York Capital Management	0	0	0	0	0	414	414	0	0	113	0	113	0
Archegos	0	0	0	0	0	0	0	0	493	(23)	0	470	(17)
Adjusted net revenues	20,821	21,410	5,508	6,060	5,198	5,335	22,101	7,430	5,226	5,504	4,384	22,544	4,582
Provision for credit losses	245	324	568	296	94	138	1,096	4,394	(25)	(144)	(20)	4,205	(110)
Archegos	0	0	0	0	0	0	0	(4,430)	(70)	188	5	(4,307)	155
Adjusted provision for credit losses	245	324	568	296	94	138	1,096	(36)	(95)	44	(15)	(102)	45
Total operating expenses	17,303	17,440	4,007	4,347	4,301	5,171	17,826	3,937	4,315	4,573	6,266	19,091	4,950
Goodwill impairment	0	0	0	0	0	0	0	0	0	0	(1,623)	(1,623)	0
Restructuring expenses	(626)	-	-	-	(107)	(50)	(157)	(25)	(45)	-	(33)	(103)	(46)
Major litigation provisions	(244)	(389)	(18)	(61)	(152)	(757)	(988)	(4)	(208)	(495)	(514)	(1,221)	(653)
Expenses related to real estate disposals	0	(108)	5	(3)	(25)	(28)	(51)	(38)	(4)	(3)	(11)	(56)	(3)
Expenses related to business sales	(51)	0	0	0	0	0	0	0	0	0	0	0	0
Expenses related to equity investment in Allfunds Group	0	0	0	0	0	0	0	0	(19)	(1)	0	(20)	0
Archegos	0	0	0	0	0	0	0	0	(31)	24	(14)	(21)	(11)
Adjusted total operating expenses	16,382	16,943	3,994	4,283	4,017	4,336	16,630	3,870	4,008	4,098	4,071	16,047	4,237
Income/(loss) before taxes	3,372	4,720	1,201	1,551	803	(88)	3,467	(757)	813	1,008	(1,664)	(600)	(428)
Adjusted income/(loss) before taxes	4,194	4,143	946	1,481	1,087	861	4,375	3,596	1,313	1,362	328	6,599	300
Adjusted economic profit (CHF million)	-	(695)	(274)	79	(166)	(330)	(691)	1,726	(52)	(24)	(842)	808	(786)

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Region

Credit Suisse (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results by region
Switzerland (CHF billion)
Net revenues	6.2	1.6	1.6	1.5	1.6	6.2	1.6
Adjustments	(0.3)	0.0	(0.1)	0.0	(0.1)	(0.2)	(0.1)
Adjusted net revenues	5.9	1.6	1.5	1.5	1.5	6.0	1.5
Provision for credit losses	0.3	0.0	0.0	0.0	0.0	0.0	0.0
Adjustments	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted provision for credit losses	0.3	0.0	0.0	0.0	0.0	0.0	0.0
Operating expenses	4.0	0.9	0.9	0.9	0.9	3.7	1.0
Adjustments	(0.2)	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted operating expenses	3.8	0.9	0.9	0.9	0.9	3.7	1.0
Income/(loss) before taxes	2.0	0.6	0.6	0.6	0.7	2.6	0.6
Adjustments	(0.2)	0.0	0.0	0.0	(0.2)	(0.2)	(0.1)
Adjusted income/(loss) before taxes	1.8	0.6	0.6	0.6	0.5	2.4	0.5
EMEA (CHF billion)
Net revenues	5.0	1.5	1.5	1.2	1.0	5.1	0.6
Adjustments	(0.4)	(0.2)	(0.4)	(0.1)	(0.1)	(0.6)	0.4
Adjusted net revenues	4.6	1.3	1.1	1.1	0.9	4.5	1.0
Provision for credit losses	0.2	0.0	0.0	0.0	0.0	0.0	0.0
Adjustments	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted provision for credit losses	0.2	0.0	0.0	0.0	0.0	0.0	0.0
Operating expenses	4.2	1.0	1.1	1.1	1.1	4.2	1.4
Adjustments	(0.1)	(0.1)	(0.1)	(0.1)	0.0	(0.2)	(0.3)
Adjusted operating expenses	4.1	0.9	1.0	1.0	1.1	4.0	1.1
Income/(loss) before taxes	0.6	0.5	0.4	0.1	(0.1)	0.9	(0.7)
Adjustments	(0.3)	(0.1)	(0.2)	0.0	0.0	(0.4)	0.6
Adjusted income/(loss) before taxes	0.3	0.4	0.2	0.1	(0.1)	0.5	(0.1)
Asia Pacific (CHF billion)
Net revenues	4.3	1.4	0.9	1.0	0.8	4.1	0.7
Adjustments	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted net revenues	4.3	1.4	0.9	1.0	0.8	4.1	0.7
Provision for credit losses	0.3	0.0	0.1	0.0	0.0	0.1	0.0
Adjustments	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted provision for credit losses	0.3	0.0	0.1	0.0	0.0	0.1	0.0
Operating expenses	2.8	0.7	0.7	0.7	0.8	2.9	0.8
Adjustments	0.0	0.0	0.0	0.0	(0.1)	(0.1)	0.0
Adjusted operating expenses	2.8	0.7	0.7	0.7	0.7	2.8	0.8
Income/(loss) before taxes	1.2	0.7	0.1	0.3	0.0	1.1	(0.1)
Adjustments	0.0	0.0	0.0	0.0	0.1	0.1	0.0
Adjusted income/(loss) before taxes	1.2	0.7	0.1	0.3	0.1	1.2	(0.1)
Americas (CHF billion)
Net revenues	7.1	2.9	1.3	1.8	1.3	7.3	1.6
Adjustments	0.4	0.0	0.5	0.1	0.0	0.6	(0.1)
Adjusted net revenues	7.5	2.9	1.8	1.9	1.3	7.9	1.5
Provision for credit losses	0.4	4.3	0.0	(0.2)	0.0	4.1	(0.2)
Adjustments	0.0	(4.4)	(0.1)	0.2	0.0	(4.3)	0.2
Adjusted provision for credit losses	0.4	(0.1)	(0.1)	0.0	0.0	(0.2)	0.0
Operating expenses	5.1	1.2	1.2	1.2	3.0	6.6	1.2
Adjustments	0.0	0.0	0.0	0.0	(1.7)	(1.7)	0.0
Adjusted operating expenses	5.1	1.2	1.2	1.2	1.3	4.9	1.2
Income/(loss) before taxes	1.6	(2.6)	0.1	0.8	(1.7)	(3.4)	0.5
Adjustments	0.5	4.4	0.6	(0.2)	1.7	6.6	(0.2)
Adjusted income/(loss) before taxes	2.1	1.8	0.7	0.6	0.0	3.2	0.3
Rounding differences may occur.

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Credit Suisse BS

Credit Suisse (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Assets (CHF million)
Cash and due from banks	100,047	101,879	119,172	132,070	137,821	139,112	139,112	133,285	146,358	151,751	164,818	164,818	167,950
Interest-bearing deposits with banks	1,142	741	912	1,185	1,231	1,298	1,298	1,447	1,313	1,322	1,323	1,323	998
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions	133,968	121,531	124,095	120,317	111,534	92,276	92,276	105,302	108,798	121,920	103,906	103,906	95,282
Securities received as collateral	41,696	40,219	28,655	42,479	45,064	50,773	50,773	56,494	38,686	36,649	15,017	15,017	8,084
Trading assets	133,635	153,797	150,798	156,730	157,786	157,338	157,338	157,139	130,505	124,820	111,141	111,141	106,971
Investment securities	1,479	1,006	1,164	584	466	607	607	614	794	874	1,005	1,005	809
Other investments	4,890	5,666	5,858	5,848	5,777	5,412	5,412	5,640	4,578	6,146	5,826	5,826	5,794
Net loans	287,581	296,779	302,674	294,312	291,263	291,908	291,908	304,188	299,844	296,593	291,686	291,686	287,682
Goodwill	4,766	4,663	4,604	4,676	4,577	4,426	4,426	4,644	4,588	4,615	2,917	2,917	2,931
Other intangible assets	219	291	279	273	256	237	237	239	245	234	276	276	307
Brokerage receivables	38,907	35,648	62,893	44,287	40,227	35,941	35,941	47,682	33,072	29,208	16,687	16,687	18,359
Other assets	37,459	39,609	47,281	41,146	39,500	39,637	39,637	48,902	42,171	46,101	41,231	41,231	44,387
Total assets	785,789	801,829	848,385	843,907	835,502	818,965	818,965	865,576	810,952	820,233	755,833	755,833	739,554
Liabilities (CHF million)
Due to banks	15,220	16,744	25,394	18,018	19,109	16,423	16,423	19,422	20,948	21,080	18,965	18,965	18,891
Customer deposits	363,925	383,783	389,905	388,995	388,264	390,921	390,921	406,069	397,298	400,518	392,819	392,819	398,624
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions	41,496	42,067	61,670	46,016	44,873	36,994	36,994	37,034	35,077	37,701	35,274	35,274	27,711
Obligation to return securities received as collateral	41,696	40,219	28,655	42,479	45,064	50,773	50,773	56,494	38,686	36,649	15,017	15,017	8,084
Trading liabilities	42,169	38,186	44,877	44,040	46,192	45,871	45,871	47,740	32,972	33,238	27,535	27,535	28,184
Short-term borrowings	21,926	28,385	27,929	27,386	22,245	20,868	20,868	24,887	22,366	20,092	19,393	19,393	17,399
Long-term debt	154,308	152,005	144,923	169,426	164,396	161,087	161,087	170,453	170,227	175,320	166,896	166,896	160,320
Brokerage payables	30,923	25,683	44,171	31,909	29,131	21,653	21,653	26,890	20,432	21,389	13,060	13,060	13,687
Other liabilities	30,107	31,043	32,088	28,787	30,228	31,434	31,434	31,703	29,071	29,443	22,644	22,644	21,978
Total liabilities	741,770	758,115	799,612	797,056	789,502	776,024	776,024	820,692	767,077	775,430	711,603	711,603	694,878
Total shareholders' equity	43,922	43,644	48,675	46,535	45,740	42,677	42,677	44,590	43,580	44,498	43,954	43,954	44,442
Noncontrolling interests	97	70	98	316	260	264	264	294	295	305	276	276	234
Total equity	44,019	43,714	48,773	46,851	46,000	42,941	42,941	44,884	43,875	44,803	44,230	44,230	44,676
Total liabilities and equity	785,789	801,829	848,385	843,907	835,502	818,965	818,965	865,576	810,952	820,233	755,833	755,833	739,554
Tangible shareholders' equity	38,937	38,690	43,792	41,586	40,907	38,014	38,014	39,707	38,747	39,649	40,761	40,761	41,204
Book value per share (CHF)
Book value per share	17.22	17.91	20.29	19.06	18.89	17.74	17.74	18.86	18.07	18.60	17.10	17.10	17.39
Tangible book value per share	15.27	15.88	18.25	17.03	16.89	15.80	15.80	16.80	16.07	16.57	15.86	15.86	16.12
Shares outstanding (million)
Common shares issued	2,556.0	2,556.0	2,556.0	2,556.0	2,447.7	2,447.7	2,447.7	2,447.7	2,650.7	2,650.7	2,650.7	2,650.7	2,650.7
Treasury shares	(5.4)	(119.8)	(157.0)	(114.4)	(25.9)	(41.6)	(41.6)	(83.7)	(239.4)	(258.6)	(81.0)	(81.0)	(94.6)
Shares outstanding	2,550.6	2,436.2	2,399.0	2,441.6	2,421.8	2,406.1	2,406.1	2,364.0	2,411.3	2,392.1	2,569.7	2,569.7	2,556.1

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Capital_Risk

Capital & Risk (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Capital metrics
CET1 capital (CHF million)	35,824	36,774	36,332	37,346	37,086	35,361	35,361	36,964	38,938	39,953	38,529	38,529	37,713
Risk-weighted assets (CHF million)	284,582	290,463	300,580	299,293	285,216	275,084	275,084	302,869	283,611	278,139	267,787	267,787	273,043
CET1 ratio (%)	12.6	12.7	12.1	12.5	13.0	12.9	12.9	12.2	13.7	14.4	14.4	14.4	13.8
Leverage metrics
Leverage exposure (CHF million)	898,258	924,528	885,925	852,182	838,627	812,996	812,996	981,979	931,041	937,419	889,137	889,137	878,023
CET1 leverage ratio (%)	4.0	4.0	4.1	4.4	4.4	4.3	4.3	3.8	4.2	4.3	4.3	4.3	4.3
Tier 1 leverage ratio (%)	5.1	5.4	5.7	6.1	6.2	6.3	6.3	5.4	5.9	6.0	6.1	6.1	6.1
Risk metrics (CHF million)
Average one-day, 98% risk management Value-at-Risk	43	35	43	116	68	60	72	60	61	51	48	55	50

&P

WM

Wealth Management (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Net revenues	6,762	7,425	2,000	1,701	1,592	1,788	7,081	2,085	1,913	1,656	1,377	7,031	1,177
Provision for credit losses	58	78	89	83	26	33	231	13	(24)	18	(7)	0	24
Compensation and benefits	2,864	2,978	747	769	716	744	2,976	664	707	695	700	2,766	749
General and administrative expenses	1,382	1,407	354	317	343	412	1,426	335	353	448	435	1,571	662
Commission expenses	366	354	98	86	82	88	354	92	98	93	85	368	89
Restructuring expenses	128	-	-	-	18	23	41	3	9	-	7	19	10
Total other operating expenses	1,876	1,761	452	403	443	523	1,821	430	460	541	527	1,958	761
Total operating expenses	4,740	4,739	1,199	1,172	1,159	1,267	4,797	1,094	1,167	1,236	1,227	4,724	1,510
Income/(loss) before taxes	1,964	2,608	712	446	407	488	2,053	978	770	402	157	2,307	(357)
Economic profit (CHF million)	-	1,240	348	145	118	184	795	544	383	110	(68)	969	(448)
Statement of operations metrics (%)
Return on regulatory capital	-	20.4	23.0	14.1	13.1	16.1	16.6	31.0	23.8	12.6	5.1	18.4	(11.9)
Cost/income ratio	70.1	63.8	60.0	68.9	72.8	70.9	67.7	52.5	61.0	74.6	89.1	67.2	128.3
Net revenue detail (CHF million)
Net interest income	2,626	2,549	663	579	558	558	2,358	561	536	511	502	2,110	514
Recurring commissions and fees	1,808	1,782	439	398	403	431	1,671	444	473	464	432	1,813	420
Transaction- and performance- based revenues	2,249	2,470	836	724	626	593	2,779	938	537	593	413	2,481	578
Other revenues	79	624	62	0	5	206	273	142	367	88	30	627	(335)
Net revenues	6,762	7,425	2,000	1,701	1,592	1,788	7,081	2,085	1,913	1,656	1,377	7,031	1,177
Margins on assets under management (annualized) (bp)
Gross margin	98	105	115	103	94	103	104	114	101	87	73	94	65
Net margin	28	37	41	27	24	28	30	54	41	21	8	31	(20)
Balance sheet statistics (CHF million)
Total assets	197,123	199,817	203,868	210,430	203,974	203,626	203,626	217,775	212,257	216,846	201,326	201,326	204,256
Risk-weighted assets	59,665	64,496	67,658	66,781	63,210	63,176	63,176	68,130	66,071	64,602	59,974	59,974	60,226
Leverage exposure	222,701	224,825	229,651	236,311	229,560	227,880	227,880	245,191	241,135	244,922	233,228	233,228	233,460
Number of relationship managers
Number of relationship managers	1,820	1,860	1,890	1,890	1,860	1,870	1,870	1,900	1,920	1,900	1,890	1,890	1,940
Assets under management (CHF billion)
Assets under management	673.0	719.6	636.1	674.5	686.6	706.9	706.9	757.0	769.4	760.6	742.6	742.6	707.0
Average assets under management	691.4	705.4	696.2	659.8	677.5	695.7	682.3	728.8	754.4	758.8	754.6	749.2	724.4
Net new assets	29.4	19.7	2.1	3.3	10.1	1.3	16.8	14.5	(6.5)	5.4	(2.9)	10.5	4.8
Client business volume (CHF billion)
Client assets	816.5	913.9	785.3	855.0	887.7	940.0	940.0	1,029.0	1,048.4	1,009.5	995.7	995.7	942.7
Net loans	109.4	114.9	107.6	104.8	104.8	104.6	104.6	113.5	110.0	107.4	103.0	103.0	97.1
Client business volume	925.9	1,028.8	892.9	959.8	992.5	1,044.6	1,044.6	1,142.5	1,158.4	1,116.9	1,098.7	1,098.7	1,039.8

&P

WM Adj

Wealth Management (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Wealth Management (CHF million)
Net revenues	6,762	7,425	2,000	1,701	1,592	1,788	7,081	2,085	1,913	1,656	1,377	7,031	1,177
Real estate (gains)/losses	(2)	(49)	0	0	1	0	1	0	0	0	(19)	(19)	(25)
(Gains)/losses on business sales	(75)	0	0	0	0	0	0	0	0	41	(17)	24	3
Major litigation recovery	0	0	0	0	0	0	0	0	(49)	0	0	(49)	0
Gain related to InvestLab transfer	0	(327)	(65)	0	0	0	(65)	0	0	0	0	0	0
(Gain)/loss on equity investment in Allfunds Group	0	0	0	0	0	(127)	(127)	(144)	(317)	(130)	(31)	(622)	353
(Gain)/loss on equity investment in SIX Group AG	0	(249)	0	0	0	(79)	(79)	0	0	0	35	35	(2)
Adjusted net revenues	6,685	6,800	1,935	1,701	1,593	1,582	6,811	1,941	1,547	1,567	1,345	6,400	1,506
Provision for credit losses	58	78	89	83	26	33	231	13	(24)	18	(7)	0	24
Total operating expenses	4,740	4,739	1,199	1,172	1,159	1,267	4,797	1,094	1,167	1,236	1,227	4,724	1,510
Restructuring expenses	(128)	-	-	-	(18)	(23)	(41)	(3)	(9)	-	(7)	(19)	(10)
Major litigation provisions	(37)	27	(1)	32	(20)	(45)	(34)	11	0	(70)	(3)	(62)	(230)
Expenses related to real estate disposals	0	(19)	1	0	(3)	(3)	(5)	(4)	0	0	(3)	(7)	0
Expenses related to equity investment in Allfunds Group	0	0	0	0	0	0	0	0	(19)	(1)	0	(20)	0
Adjusted total operating expenses	4,575	4,747	1,199	1,204	1,118	1,196	4,717	1,098	1,139	1,165	1,214	4,616	1,270
Income/(loss) before taxes	1,964	2,608	712	446	407	488	2,053	978	770	402	157	2,307	(357)
Adjusted income/(loss) before taxes	2,052	1,975	647	414	449	353	1,863	830	432	384	138	1,784	212
Adjusted economic profit (CHF million)	-	766	299	121	149	83	652	433	130	97	(82)	578	(21)
Adjusted return on regulatory capital (%)	-	15.5	20.9	13.1	14.4	11.6	15.1	26.3	13.4	12.0	4.5	14.2	7.1

&P

IB

Investment Bank (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Net revenues	8,930	9,149	2,331	3,177	2,273	2,372	10,153	3,884	1,844	2,514	1,666	9,908	1,938
Provision for credit losses	62	130	352	185	9	42	588	4,365	19	(168)	(7)	4,209	(156)
Compensation and benefits	4,179	4,379	1,066	1,146	1,047	1,127	4,386	975	992	972	953	3,892	1,098
General and administrative expenses	2,689	2,664	624	671	630	680	2,605	673	672	731	941	3,017	693
Commission expenses	626	656	172	159	142	143	616	164	148	138	119	569	143
Goodwill impairment	0	0	0	0	0	0	0	0	0	0	1,623	1,623	0
Restructuring expenses	362	-	-	-	34	14	48	17	29	-	25	71	36
Total other operating expenses	3,677	3,320	796	830	806	837	3,269	854	849	869	2,708	5,280	872
Total operating expenses	7,856	7,699	1,862	1,976	1,853	1,964	7,655	1,829	1,841	1,841	3,661	9,172	1,970
Income/(loss) before taxes	1,012	1,320	117	1,016	411	366	1,910	(2,310)	(16)	841	(1,988)	(3,473)	124
Economic profit (CHF million)	-	(809)	(395)	272	(154)	(171)	(448)	(2,194)	(467)	211	(1,897)	(4,347)	(297)
Statement of operations metrics (%)
Return on regulatory capital	-	6.1	2.2	18.7	8.2	7.3	9.2	(42.4)	(0.4)	18.1	(44.5)	(17.6)	2.8
Cost/income ratio	88.0	84.2	79.9	62.2	81.5	82.8	75.4	47.1	99.8	73.2	219.7	92.6	101.7
Net revenue detail (CHF million)
Fixed income sales and trading	2,755	3,506	1,266	1,328	869	724	4,187	1,469	837	759	460	3,525	741
Equity sales and trading	2,198	2,328	736	540	516	469	2,261	937	(29)	514	370	1,792	504
Capital markets	2,810	2,484	158	1,063	791	952	2,964	1,244	913	897	535	3,589	430
Advisory and other fees	1,116	730	169	244	133	198	744	235	127	349	303	1,014	204
Other revenues	51	101	2	2	(36)	29	(3)	(1)	(4)	(5)	(2)	(12)	59
Net revenues	8,930	9,149	2,331	3,177	2,273	2,372	10,153	3,884	1,844	2,514	1,666	9,908	1,938
Balance sheet statistics (CHF million)
Total assets	312,521	322,118	354,655	339,197	344,403	333,393	333,393	356,359	316,139	320,291	274,112	274,112	253,958
Risk-weighted assets	102,471	101,004	117,057	105,607	98,121	92,890	92,890	109,654	88,709	87,721	84,313	84,313	85,464
Risk-weighted assets (USD)	103,894	104,228	121,450	111,171	106,485	105,476	105,476	116,527	95,834	93,854	92,193	92,193	92,632
Leverage exposure	372,179	392,461	429,015	399,136	404,735	387,098	387,098	417,826	378,173	380,439	347,774	347,774	335,763
Leverage exposure (USD)	377,349	404,985	445,117	420,165	439,237	439,547	439,547	444,012	408,549	407,039	380,278	380,278	363,921
Risk metrics (CHF million)
Average one-day, 98% risk management Value-at-Risk	32	30	39	101	60	56	64	57	56	48	45	52	46
Return on regulatory capital is based on US dollar denominated numbers.

&P

IB Adj

Investment Bank (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Investment Bank (CHF million)
Net revenues	8,930	9,149	2,331	3,177	2,273	2,372	10,153	3,884	1,844	2,514	1,666	9,908	1,938
Real estate (gains)/losses	0	(7)	0	0	0	0	0	0	0	0	0	0	(53)
Archegos	0	0	0	0	0	0	0	0	493	(23)	0	470	(17)
Adjusted net revenues	8,930	9,142	2,331	3,177	2,273	2,372	10,153	3,884	2,337	2,491	1,666	10,378	1,868
Provision for credit losses	62	130	352	185	9	42	588	4,365	19	(168)	(7)	4,209	(156)
Archegos	0	0	0	0	0	0	0	(4,430)	(70)	188	5	(4,307)	155
Adjusted provision for credit losses	62	130	352	185	9	42	588	(65)	(51)	20	(2)	(98)	(1)
Total operating expenses	7,856	7,699	1,862	1,976	1,853	1,964	7,655	1,829	1,841	1,841	3,661	9,172	1,970
Goodwill impairment	0	0	0	0	0	0	0	0	0	0	(1,623)	(1,623)	0
Restructuring expenses	(362)	-	-	-	(34)	(14)	(48)	(17)	(29)	-	(25)	(71)	(36)
Major litigation provisions	(90)	0	0	(24)	0	0	(24)	0	0	0	(149)	(149)	0
Expenses related to real estate disposals	0	(75)	4	(3)	(21)	(20)	(40)	(33)	0	(3)	(8)	(44)	(3)
Archegos	0	0	0	0	0	0	0	0	(31)	24	(19)	(26)	(11)
Adjusted total operating expenses	7,404	7,624	1,866	1,949	1,798	1,930	7,543	1,779	1,781	1,862	1,837	7,259	1,920
Income/(loss) before taxes	1,012	1,320	117	1,016	411	366	1,910	(2,310)	(16)	841	(1,988)	(3,473)	124
Adjusted income/(loss) before taxes	1,464	1,388	113	1,043	466	400	2,022	2,170	607	609	(169)	3,217	(51)
Adjusted economic profit (CHF million)	-	(758)	(398)	293	(113)	(145)	(363)	1,165	1	37	(533)	670	(428)
Adjusted return on regulatory capital (%)	-	6.4	2.1	19.1	9.3	8.1	9.8	42.2	12.3	13.2	(3.8)	16.9	(1.2)
Return on regulatory capital is based on US dollar denominated numbers.

&P

IB USD

Investment Bank (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (USD million)
Net revenues	9,159	9,224	2,416	3,310	2,491	2,634	10,851	4,263	2,017	2,736	1,820	10,836	2,096
Provision for credit losses	63	133	366	192	8	47	613	4,635	21	(180)	(8)	4,468	(169)
Compensation and benefits	4,283	4,411	1,105	1,194	1,150	1,250	4,699	1,079	1,088	1,060	1,041	4,268	1,187
General and administrative expenses	2,754	2,685	646	699	690	758	2,793	738	736	795	1,028	3,297	750
Commission expenses	642	661	178	166	155	159	658	179	162	150	131	622	155
Goodwill impairment	0	0	0	0	0	0	0	0	0	0	1,775	1,775	0
Restructuring expenses	370	-	-	-	37	16	53	19	32	-	27	78	39
Total other operating expenses	3,766	3,346	824	865	882	933	3,504	936	930	945	2,961	5,772	944
Total operating expenses	8,049	7,757	1,929	2,059	2,032	2,183	8,203	2,015	2,018	2,005	4,002	10,040	2,131
Income/(loss) before taxes	1,047	1,334	121	1,059	451	404	2,035	(2,387)	(22)	911	(2,174)	(3,672)	134
Economic profit (USD million)	-	(840)	(409)	283	(156)	(193)	(475)	(2,296)	(503)	231	(2,070)	(4,638)	(324)
Net revenue detail (USD million)
Fixed income sales and trading	2,833	3,532	1,312	1,382	952	801	4,447	1,616	916	825	504	3,861	802
Equity sales and trading	2,254	2,346	763	563	566	520	2,412	1,030	(33)	559	403	1,959	545
Capital markets	2,880	2,508	163	1,109	867	1,058	3,197	1,361	1,000	977	585	3,923	466
Advisory and other fees	1,140	736	175	254	146	220	795	257	139	379	331	1,106	221
Other revenues	52	102	3	2	(40)	35	0	(1)	(5)	(4)	(3)	(13)	62
Net revenues	9,159	9,224	2,416	3,310	2,491	2,634	10,851	4,263	2,017	2,736	1,820	10,836	2,096
Reconciliation of adjustment items
Investment Bank (USD million)
Net revenues	9,159	9,224	2,416	3,310	2,491	2,634	10,851	4,263	2,017	2,736	1,820	10,836	2,096
Real estate (gains)/losses	0	(7)	0	0	0	0	0	0	0	0	0	0	(57)
Archegos	0	0	0	0	0	0	0	0	542	(24)	0	518	(19)
Adjusted net revenues	9,159	9,217	2,416	3,310	2,491	2,634	10,851	4,263	2,559	2,712	1,820	11,354	2,020
Provision for credit losses	63	133	366	192	8	47	613	4,635	21	(180)	(8)	4,468	(169)
Archegos	0	0	0	0	0	0	0	(4,707)	(77)	202	5	(4,577)	167
Adjusted provision for credit losses	63	133	366	192	8	47	613	(72)	(56)	22	(3)	(109)	(2)
Total operating expenses	8,049	7,757	1,929	2,059	2,032	2,183	8,203	2,015	2,018	2,005	4,002	10,040	2,131
Goodwill impairment	-	-	-	-	-	-	-	-	-	-	(1,775)	(1,775)	-
Restructuring expenses	(370)	-	-	-	(37)	(16)	(53)	(19)	(32)	-	(27)	(78)	(39)
Major litigation provisions	(93)	0	0	(25)	0	0	(25)	0	0	0	(163)	(163)	0
Expenses related to real estate disposals	0	(78)	4	(3)	(23)	(22)	(44)	(35)	0	(3)	(9)	(47)	(3)
Expenses related to business sales	0	0	0	0	0	0	0	0	0	0	0	0	0
Archegos	0	0	0	0	0	0	0	0	(34)	26	(21)	(29)	(12)
Adjusted total operating expenses	7,586	7,679	1,933	2,031	1,972	2,145	8,081	1,961	1,952	2,028	2,007	7,948	2,077
Income/(loss) before taxes	1,047	1,334	121	1,059	451	404	2,035	(2,387)	(22)	911	(2,174)	(3,672)	134
Adjusted income/(loss) before taxes	1,510	1,405	117	1,087	511	442	2,157	2,374	663	662	(184)	3,515	(55)
Adjusted economic profit (USD million)	-	(788)	(412)	304	(111)	(163)	(382)	1,274	11	45	(579)	751	(466)

&P

SB

Swiss Bank (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Net revenues	4,109	4,555	1,032	1,120	998	1,062	4,212	1,031	1,023	1,053	1,209	4,316	1,109
Provision for credit losses	124	107	124	20	57	67	268	26	(21)	3	(4)	4	23
Compensation and benefits	1,485	1,522	394	390	380	397	1,561	378	368	361	331	1,438	391
General and administrative expenses	823	822	186	186	188	188	748	180	195	206	240	821	193
Commission expenses	135	132	31	30	32	32	125	28	33	29	34	124	30
Restructuring expenses	86	-	-	-	40	2	42	7	3	-	1	11	1
Total other operating expenses	1,044	954	217	216	260	222	915	215	231	235	275	956	224
Total operating expenses	2,529	2,476	611	606	640	619	2,476	593	599	596	606	2,394	615
Income/(loss) before taxes	1,456	1,972	297	494	301	376	1,468	412	445	454	607	1,918	471
Economic profit (CHF million)	-	696	22	167	21	80	290	105	129	139	256	629	154
Statement of operations metrics (%)
Return on regulatory capital	-	14.1	8.9	14.5	8.8	11.2	10.9	12.1	13.0	13.5	18.3	14.2	14.2
Cost/income ratio	61.5	54.4	59.2	54.1	64.1	58.3	58.8	57.5	58.6	56.6	50.1	55.5	55.5
Net revenue detail (CHF million)
Net interest income	2,329	2,388	599	584	575	578	2,336	591	578	589	587	2,345	576
Recurring commissions and fees	1,246	1,222	305	289	305	291	1,190	314	323	333	332	1,302	336
Transaction-based revenues	565	537	142	133	127	110	512	142	135	146	138	561	136
Other revenues	(31)	408	(14)	114	(9)	83	174	(16)	(13)	(15)	152	108	61
Net revenues	4,109	4,555	1,032	1,120	998	1,062	4,212	1,031	1,023	1,053	1,209	4,316	1,109
Margins on assets under management (annualized) (bp)
Gross margin	93	92	79	89	76	79	81	74	71	71	82	74	75
Net margin	33	40	23	39	23	28	28	29	31	31	41	33	32
Balance sheet statistics (CHF million)
Total assets	214,426	221,789	226,353	231,649	225,057	225,385	225,385	229,782	226,268	224,798	221,478	221,478	222,152
Risk-weighted assets	68,051	70,745	71,051	73,156	71,371	70,577	70,577	73,361	71,133	69,873	68,764	68,764	70,466
Leverage exposure	235,322	245,027	248,744	254,528	248,458	248,523	248,523	253,833	251,605	250,439	247,509	247,509	247,624
Number relationship managers
Number of relationship managers	1,670	1,680	1,710	1,700	1,680	1,690	1,690	1,660	1,670	1,650	1,630	1,630	1,680
Assets under management (CHF billion)
Assets under management	430.5	524.4	488.7	515.0	529.9	551.0	551.0	571.2	588.2	588.8	597.9	597.9	582.5
Average assets under management	442.3	496.4	519.6	504.7	523.3	535.5	520.8	559.6	578.6	592.2	592.5	580.7	588.1
Net new assets	10.8	48.7	5.2	3.0	4.5	3.6	16.3	3.8	0.7	0.4	1.0	5.9	6.0
Client business volume (CHF billion)
Client assets	542.7	629.9	593.9	622.6	638.5	665.6	665.6	690.6	711.6	714.7	728.7	728.7	707.9
Net loans	152.9	154.8	158.5	158.8	159.8	161.8	161.8	165.2	165.1	163.5	161.2	161.2	162.8
Client business volume	695.6	784.7	752.4	781.4	798.3	827.4	827.4	855.8	876.7	878.2	889.9	889.9	870.7

&P

SB Adj

Swiss Bank (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Swiss Bank (CHF million)
Net revenues	4,109	4,555	1,032	1,120	998	1,062	4,212	1,031	1,023	1,053	1,209	4,316	1,109
Real estate (gains)/losses	(21)	(220)	0	0	(1)	(15)	(16)	0	(4)	(4)	(205)	(213)	(84)
(Gain)/loss on equity investment in SIX Group AG	0	(249)	0	0	0	(79)	(79)	0	0	0	35	35	(3)
Gain on equity investment in Pfandbriefbank	0	0	0	(134)	0	0	(134)	0	0	0	0	0	0
Adjusted net revenues	4,088	4,086	1,032	986	997	968	3,983	1,031	1,019	1,049	1,039	4,138	1,022
Provision for credit losses	124	107	124	20	57	67	268	26	(21)	3	(4)	4	23
Total operating expenses	2,529	2,476	611	606	640	619	2,476	593	599	596	606	2,394	615
Restructuring expenses	(86)	-	-	-	(40)	(2)	(42)	(7)	(3)	-	(1)	(11)	(1)
Expenses related to real estate disposals	0	(10)	0	0	0	(4)	(4)	0	(4)	0	0	(4)	0
Adjusted total operating expenses	2,443	2,466	611	606	600	613	2,430	586	592	596	605	2,379	614
Income/(loss) before taxes	1,456	1,972	297	494	301	376	1,468	412	445	454	607	1,918	471
Adjusted income/(loss) before taxes	1,521	1,513	297	360	340	288	1,285	419	448	450	438	1,755	385
Adjusted economic profit (CHF million)	-	352	22	67	51	14	154	111	130	136	129	506	90
Adjusted return on regulatory capital (%)	-	10.8	8.9	10.6	10.0	8.6	9.5	12.4	13.1	13.4	13.2	13.0	11.6

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AM

Asset Management (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Net revenues	1,584	1,682	458	373	319	(10)	1,140	400	417	292	399	1,508	361
Provision for credit losses	0	1	0	2	4	(6)	0	0	1	1	(2)	0	0
Compensation and benefits	715	693	167	167	165	140	639	155	167	125	156	603	165
General and administrative expenses	353	392	93	88	87	101	369	86	100	120	120	426	114
Commission expenses	73	73	21	19	21	25	86	27	27	28	32	114	29
Restructuring expenses	26	-	-	-	13	5	18	1	2	-	0	3	0
Total other operating expenses	452	465	114	107	121	131	473	114	129	148	152	543	143
Total operating expenses	1,167	1,158	281	274	286	271	1,112	269	296	273	308	1,146	308
Income/(loss) before taxes	417	523	177	97	29	(275)	28	131	120	18	93	362	53
Economic profit (CHF million)	-	335	118	58	6	(222)	(40)	84	74	0	57	215	28
Statement of operations metrics (%)
Return on regulatory capital	-	51.1	73.3	39.0	10.8	(105.3)	2.8	54.5	48.1	7.8	44.5	39.2	25.9
Cost/income ratio	73.7	68.8	61.4	73.5	89.7	-	97.5	67.3	71.0	93.5	77.2	76.0	85.3
Net revenue detail (CHF million)
Management fees	1,019	1,072	264	254	262	272	1,052	279	285	287	286	1,137	272
Performance, transaction and placement revenues	242	331	(15)	58	52	124	219	92	79	75	94	340	46
Investment and partnership income	323	279	209	61	5	(406)	(131)	29	53	(70)	19	31	43
Net revenues	1,584	1,682	458	373	319	(10)	1,140	400	417	292	399	1,508	361
Balance sheet statistics (CHF million)
Total assets	4,416	4,956	4,865	4,693	4,308	3,912	3,912	4,163	3,806	3,728	3,603	3,603	3,659
Risk-weighted assets	9,224	9,687	9,365	10,353	11,411	9,651	9,651	9,797	10,172	8,395	8,446	8,446	8,107
Leverage exposure	3,365	3,963	3,662	3,719	3,583	3,199	3,199	3,380	2,969	2,769	2,737	2,737	2,792
Assets under management (CHF billion)
Assets under management	388.7	437.9	409.6	423.8	438.5	440.3	440.3	458.0	471.4	474.7	476.8	476.8	462.0
Average assets under management	397.8	416.3	432.5	412.4	429.5	440.2	428.7	450.5	460.9	472.2	472.0	463.9	467.8
Net new assets	22.2	21.5	0.1	4.1	5.0	6.3	15.5	10.3	1.3	(1.7)	4.7	14.6	(0.6)

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AM Adj

Asset Management (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Asset Management (CHF million)
Net revenues	1,584	1,682	458	373	319	(10)	1,140	400	417	292	399	1,508	361
Real estate (gains)/losses	0	0	0	0	0	0	0	0	0	0	0	0	(2)
(Gains)/losses on business sales	(18)	0	0	0	0	0	0	0	0	0	0	0	0
Gain related to InvestLab transfer	0	0	(203)	0	0	0	(203)	0	0	0	0	0	0
Impairment on York Capital Management	0	0	0	0	0	414	414	0	0	113	0	113	0
Adjusted net revenues	1,566	1,682	255	373	319	404	1,351	400	417	405	399	1,621	359
Provision for credit losses	0	1	0	2	4	(6)	0	0	1	1	(2)	0	0
Total operating expenses	1,167	1,158	281	274	286	271	1,112	269	296	273	308	1,146	308
Restructuring expenses	(26)	-	-	-	(13)	(5)	(18)	(1)	(2)	-	0	(3)	0
Expenses related to real estate disposals	0	(4)	0	0	(1)	(1)	(2)	(1)	0	0	0	(1)	0
Expenses related to business sales	(47)	0	0	0	0	0	0	0	0	0	0	0	0
Adjusted total operating expenses	1,094	1,154	281	274	272	265	1,092	267	294	273	308	1,142	308
Income/(loss) before taxes	417	523	177	97	29	(275)	28	131	120	18	93	362	53
Adjusted income/(loss) before taxes	472	527	(26)	97	43	145	259	133	122	131	93	479	51
Adjusted economic profit (CHF million)	-	338	(34)	58	16	93	133	86	76	85	57	304	27
Adjusted return on regulatory capital (%)	-	51.5	(10.8)	39.1	15.8	55.4	25.5	55.2	49.1	57.2	44.7	52.0	25.3

&P

CC

Corporate Center (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Results
Statements of operations (CHF million)
Treasury results	169	(404)	(18)	(188)	(23)	(6)	(235)	129	(116)	(57)	(130)	(174)	(254)
Asset Resolution Unit	(144)	(57)	(38)	(33)	(50)	(178)	(33)	(43)	(34)	17	(93)	39
Other	74	221	30	49	72	65	216	78	65	13	44	200	42
Net revenues	243	(327)	(45)	(177)	16	9	(197)	174	(94)	(78)	(69)	(67)	(173)
Provision for credit losses	0	8	3	6	(2)	2	9	(10)	0	2	0	(8)	(1)
Compensation and benefits	123	464	(58)	122	133	131	328	35	122	102	5	264	55
General and administrative expenses	166	843	89	178	210	898	1,375	102	269	507	446	1,324	486
Commission expenses	47	61	23	19	18	15	75	18	19	18	13	68	7
Restructuring expenses	3	-	-	-	2	6	8	(3)	2	-	0	(1)	(1)
Total other operating expenses	216	904	112	197	230	919	1,458	117	290	525	459	1,391	492
Total operating expenses	339	1,368	54	319	363	1,050	1,786	152	412	627	464	1,655	547
Income/(loss) before taxes	(96)	(1,703)	(102)	(502)	(345)	(1,043)	(1,992)	32	(506)	(707)	(533)	(1,714)	(719)
of which Asset Resolution Unit	(383)	(94)	(75)	(68)	(100)	(337)	(68)	(79)	(73)	(10)	(230)	10
Balance sheet statistics (CHF million)
Total assets	39,708	53,149	58,644	57,938	57,760	52,649	52,649	57,497	52,482	54,570	55,314	55,314	55,529
Risk-weighted assets	27,050	44,531	35,449	43,396	41,103	38,790	38,790	41,927	47,526	47,548	46,290	46,290	48,780
Leverage exposure	37,866	58,252	63,175	62,102	61,958	56,973	56,973	61,749	57,159	58,850	57,889	57,889	58,384
Results - Asset Resolution Unit
Statements of operations (CHF million)
Revenues from portfolio assets	84	(6)	24	22	(1)	39	14	3	12	61	90	61
Asset funding costs	(228)	(51)	(62)	(55)	(49)	(217)	(47)	(46)	(46)	(44)	(183)	(22)
Net revenues	(144)	(57)	(38)	(33)	(50)	(178)	(33)	(43)	(34)	17	(93)	39
Provision for credit losses	5	0	(2)	(2)	0	(4)	(1)	0	2	0	1	(1)
Compensation and benefits	131	24	20	22	24	90	19	19	20	14	72	15
General and administrative expenses	95	12	17	14	25	68	15	16	16	12	59	14
Commission expenses	8	1	2	1	1	5	2	1	1	1	5	1
Total other operating expenses	103	13	19	15	26	73	17	17	17	13	64	15
Total operating expenses	234	37	39	37	50	163	36	36	37	27	136	30
Income/(loss) before taxes	(383)	(94)	(75)	(68)	(100)	(337)	(68)	(79)	(73)	(10)	(230)	10
Balance sheet statistics
Total assets (CHF million)	14,123	15,669	14,367	14,848	13,962	13,962	13,501	11,631	11,929	11,833	11,833	9,982
Risk-weighted assets (USD million)	10,693	9,084	11,244	10,871	10,257	10,257	8,874	8,037	7,618	7,539	7,539	6,845
Leverage exposure (USD million)	22,687	23,823	22,032	23,099	22,543	22,543	20,389	18,649	18,574	18,362	18,362	15,765
Beginning in 2019, the Strategic Resolution Unit ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center.
As of the end of 1Q20, 2Q20, 3Q20 and 4Q20, leverage exposure includes CHF 88,322 million, CHF 103,614 million, CHF 109,667 million and CHF 110,677 million, respectively, of central bank reserves, after adjusting for planned or paid dividends in the period reflecting the temporary exclusion as prescribed by FINMA.

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CC Adj

Corporate Center (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Reconciliation of adjustment items
Corporate Center (CHF million)
Net revenues	243	(327)	(45)	(177)	16	9	(197)	174	(94)	(78)	(69)	(67)	(173)
Real estate (gains)/losses	(4)	25	0	0	0	0	0	0	0	0	0	0	0
(Gains)/losses on business sales	22	2	0	0	0	0	0	0	0	1	4	5	0
Valuation adjustment related to major litigation	0	0	0	0	0	0	0	0	0	69	0	69	0
Adjusted net revenues	261	(300)	(45)	(177)	16	9	(197)	174	(94)	(8)	(65)	7	(173)
Provision for credit losses	0	8	3	6	(2)	2	9	(10)	0	2	0	(8)	(1)
Total operating expenses	339	1,368	54	319	363	1,050	1,786	152	412	627	464	1,655	547
Restructuring expenses	(3)	-	-	-	(2)	(6)	(8)	3	(2)	-	0	1	1
Major litigation provisions	0	(416)	(17)	(69)	(132)	(712)	(930)	(15)	(208)	(425)	(362)	(1,010)	(423)
Archegos	0	0	0	0	0	0	0	0	0	0	5	5	0
Adjusted total operating expenses	336	952	37	250	229	332	848	140	202	202	107	651	125
Income/(loss) before taxes	(96)	(1,703)	(102)	(502)	(345)	(1,043)	(1,992)	32	(506)	(707)	(533)	(1,714)	(719)
Adjusted income/(loss) before taxes	(75)	(1,260)	(85)	(433)	(211)	(325)	(1,054)	44	(296)	(212)	(172)	(636)	(297)
Asset Resolution Unit (USD million)
Net revenues	(145)	(59)	(39)	(36)	(56)	(190)	(36)	(47)	(37)	17	(103)	42
(Gains)/losses on business sales	2	0	0	0	0	0	0	0	0	0	0	0
Adjusted net revenues	(143)	(59)	(39)	(36)	(56)	(190)	(36)	(47)	(37)	17	(103)	42
Provision for credit losses	5	0	(2)	(2)	0	(4)	(1)	0	2	0	1	(1)
Total operating expenses	234	38	42	40	56	176	39	40	40	29	148	32
Income/(loss) before taxes	(384)	(97)	(79)	(74)	(112)	(362)	(74)	(87)	(79)	(12)	(252)	11
Adjusted income/(loss) before taxes	(382)	(97)	(79)	(74)	(112)	(362)	(74)	(87)	(79)	(12)	(252)	11
Beginning in 2019, the Strategic Resolution Unit ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center.

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SRU

Strategic Resolution Unit (unaudited)
2018
Results
Statements of operations (CHF million)
Net revenues	(708)
of which from noncontrolling interests without SEI	(8)
Provision for credit losses	1
Compensation and benefits	254
General and administrative expenses	385
of which from litigation provisions	132
Commission expenses	12
Restructuring expenses	21
Total other operating expenses	418
Total operating expenses	672
of which from noncontrolling interests without SEI	4
Income/(loss) before taxes	(1,381)
of which from noncontrolling interests without SEI	(12)
Net revenue detail (CHF million)
Restructuring of select onshore businesses	1
Legacy cross-border and small markets businesses	53
Legacy asset management positions	12
Legacy investment banking portfolio	(453)
Legacy funding costs	(315)
Other	2
Noncontrolling interests without SEI	(8)
Net revenues	(708)
Balance sheet statistics (CHF million)
Total assets	17,595
Risk-weighted assets	18,121
Risk-weighted assets (USD)	18,373
Leverage exposure	26,825
Leverage exposure (USD)	27,198
Beginning in 2019, the Strategic Resolution Unit ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center.

&P

SRU Adj

Strategic Resolution Unit (unaudited)
2018
Reconciliation of adjustment items
Strategic Resolution Unit (CHF million)
Net revenues	(708)
Real estate (gains)/losses	(1)
(Gains)/losses on business sales	0
Adjusted net revenues	(709)
Provision for credit losses	1
Total operating expenses	672
Restructuring expenses	(21)
Major litigation provisions	(117)
Expenses related to business sales	(4)
Adjusted total operating expenses	530
Income/(loss) before taxes	(1,381)
Total adjustments	141
Adjusted income/(loss) before taxes	(1,240)
Beginning in 2019, the Strategic Resolution Unit ceased to exist as a separate division of the Group. The residual portfolio remaining as of December 31, 2018 is now managed in an Asset Resolution Unit and is separately disclosed within the Corporate Center.

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AuM

Assets under Management (unaudited)
2018	2019	1Q20	2Q20	3Q20	4Q20	2020	1Q21	2Q21	3Q21	4Q21	2021	1Q22
Assets under management
Assets under management (CHF billion)
Wealth Management	673.0	719.6	636.1	674.5	686.6	706.9	706.9	757.0	769.4	760.6	742.6	742.6	707.0
Swiss Bank	430.5	524.4	488.7	515.0	529.9	551.0	551.0	571.2	588.2	588.8	597.9	597.9	582.5
Asset Management	388.7	437.9	409.6	423.8	438.5	440.3	440.3	458.0	471.4	474.7	476.8	476.8	462.0
Strategic Resolution Unit	0.5	-	-	-	-	-	-	-	-	-	-	-	-
Assets managed across businesses	(147.8)	(174.7)	(163.9)	(169.9)	(176.7)	(186.3)	(186.3)	(190.2)	(197.0)	(201.1)	(203.3)	(203.3)	(196.6)
Assets under management	1,344.9	1,507.2	1,370.5	1,443.4	1,478.3	1,511.9	1,511.9	1,596.0	1,632.0	1,623.0	1,614.0	1,614.0	1,554.9
of which discretionary assets	442.9	489.7	450.1	468.1	481.1	483.0	483.0	506.5	524.3	528.0	526.6	526.6	514.0
of which advisory assets	902.0	1,017.5	920.4	975.3	997.2	1,028.9	1,028.9	1,089.5	1,107.7	1,095.0	1,087.4	1,087.4	1,040.9
Net new assets (CHF billion)
Wealth Management	29.4	19.7	2.1	3.3	10.1	1.3	16.8	14.5	(6.5)	5.4	(2.9)	10.5	4.8
Swiss Bank	10.8	48.7	5.2	3.0	4.5	3.6	16.3	3.8	0.7	0.4	1.0	5.9	6.0
Asset Management	22.2	21.5	0.1	4.1	5.0	6.3	15.5	10.3	1.3	(1.7)	4.7	14.6	(0.6)
Strategic Resolution Unit	(0.3)	-	-	-	-	-	-	-	-	-	-	-	-
Assets managed across businesses	(8.4)	(10.6)	(1.6)	(0.6)	(1.6)	(2.8)	(6.6)	(0.2)	(0.2)	1.5	(1.2)	(0.1)	(2.3)
Net new assets	53.7	79.3	5.8	9.8	18.0	8.4	42.0	28.4	(4.7)	5.6	1.6	30.9	7.9
Assets under management by region
Assets under management (CHF billion)
Switzerland	980.1	1,014.2	1,046.1	1,051.8	1,061.5	1,061.5	1,030.0
EMEA	310.3	329.4	337.5	335.4	330.3	330.3	300.2
Asia Pacific	267.3	293.6	288.3	282.8	274.2	274.2	266.2
Americas	140.5	149.0	157.1	154.1	151.3	151.3	155.1
Assets managed across regions	(186.3)	(190.2)	(197.0)	(201.1)	(203.3)	(203.3)	(196.6)
Assets under management	1,511.9	1,596.0	1,632.0	1,623.0	1,614.0	1,614.0	1,554.9
Net new assets (CHF billion)
Switzerland	24.7	11.3	1.6	(0.4)	0.3	12.8	10.0
EMEA	13.6	6.7	(1.9)	0.8	0.9	6.5	0.2
Asia Pacific	8.5	7.9	(7.0)	3.5	0.2	4.6	2.5
Americas	1.8	2.7	2.8	0.2	1.4	7.1	(2.5)
Assets managed across regions	(6.6)	(0.2)	(0.2)	1.5	(1.2)	(0.1)	(2.3)
Net new assets	42.0	28.4	(4.7)	5.6	1.6	30.9	7.9
Beginning in 2019, the Strategic Resolution Unit ceased to exist as a separate division of the Group. The residual assets under management were either transferred to other divisions or no longer qualify as assets under management.

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