Credit Suisse : Disappointing Q2 2022 triggers further reshaping of the business model
>Q2 2022 disappoints with sizable pre-tax loss of CHF 1,173m - Credit Suisse reported disappointing Q2 2022 results markedly below our and the consensus estimates. Group revenues declined by 28.6% y-o-y to CHF 3,645m vs CHF 4,121m consensus estimate. Reported pre-tax loss came in at CHF 1,173m which compares to the CHF 258m consensus loss estimate and our CHF 210m loss estimate. Adj. pre-tax loss came to CHF 442m in the quarter. The negative deviation to consensus was...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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