Credit Suisse’s Third Quarter Is Not Impressive; Profitability Struggles Continue
Credit Suisse reported an unimpressive third quarter, as it continues to struggle with core profitability issues within wealth management. We plan to maintain our CHF 14/$14 fair value estimate and narrow moat rating, which reflects a challenged environment for the bank over the near term. We do consider Credit Suisse’s capital position to be weak at a 12% common equity Tier 1 ratio, as we believe wealth managers will need to operate with higher capital levels than most banks to limit client con...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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