Credit Suisse Reports Solid 3Q Results Driven by Cost Control
Narrow-moat Credit Suisse’s reported third-quarter adjusted profit before tax was strong, increasing to CHF 620 million, an 80% increase compared with the third quarter of 2016. A better reflection of the business would be to compare the results excluding the ringfenced non-strategic business that Credit Suisse is winding down--on this basis adjusted profit before tax increased by 30% to CHF 1.1 billion. We keep our CHF 12.90 fair value estimate and our narrow moat rating.We do highlight that t...
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.
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