Credit Suisse Reports Good 2Q Results; Capital Position Strengthened After CHF 4bn Rights Offering
Now at the midway point of its three-year restructuring plan, Credit Suisse is making further progress on improving its underlying business after collecting CHF 4.1 billion in its recent rights offering. Total adjusted results before taxes saw a boost of CHF 394 million to a total of CHF 684 million versus last year, owing to solid growth and lower losses on the strategic resolution unit. We maintain our CHF 12.20/$12.30 fair value estimate, along with our narrow moat rating.International wealt...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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