Credit Suisse Reports Additional Losses in Q2; Announces a Deeper Strategic Review and New CEO
Credit Suisse Group AG reported a net attributable loss of CHF 1.6 billion in Q2 2022, in addition to a CHF 273 million loss in Q1. This compared to CHF 253 million profit in Q2 2021 and a CHF 2,085 million net loss in Q4 2021. The Group's CET1 ratio remained sound at 13.5% at end-Q2 2022, only slightly down from 13.8% at end-Q1 2022.
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.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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