Financial stock to watch: Credit Suisse Group AG (ADR)(NYSE: CS)

Free $50 Forex No-Deposit Bonus

Credit Suisse Group AG (ADR)(NYSE:CS) stock rose 3.7% on Feb 14th, 2018 (As of 11:42AM EST; Source: Google finance) leading to the total rise of 21.8% in the last one year.

For full-year of 2017, the group reported pre-tax income of CHF 1.8 billion, on net revenues of CHF 20.9 billion. Pre-tax income reached CHF 2.8 billion, on an adjusted basis. For the fourth quarter of 2017, the group reported a pre-tax profit of CHF 141 million and an adjusted pre-tax income of CHF 569 million on CHF 5.2 billion of revenues. During the fourth quarter of 2017, the group recognized CHF 255 million of substantial litigation expenses, for which a major component CHF 133 million was in regards to the settlement with the New York Department of Financial Services. The group has migrated 17% of their operating systems into cloud with a target to reach 60% in 2020 with all kinds of benefits.

In the third quarter of 2017, RWA enhanced by further CHF 3.8 billion as a result of the NCUA and MassMutual settlements, which is equivalent to another 19 basis points reduction in their CET-1 ratio. CET-1 ratio from these op risk changes in the second half of 2017 to over 45 basis points. The CET-1 ratio reached 12.8% as at the end of the year against 13.15% as at the end of the third quarter and 13.29% at the end of the second quarter. For 2018 the group forecasts additions of over CHF 8 billion this year, while forecasts CHF 2 billion to be incurred in the first quarter. The group continued to forecast to finalize the treatment of these business exits with the FINMA in the coming months.

The group expects a revenues of more than 10% in the first six weeks of 2018 against the same period last year, boosted by equity derivatives and securitized products. Profitability in global market enhanced by 118% year-over-year, with a better return on regulatory capital to 4%.

Copyright © 2019. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.