Investor Relations
Thank you, Sharon. Good morning, everyone. So before we begin, let me remind you of the important cautionary statements on Slides 2 and 3, including in relation to forward-looking statements, non-GAAP financial measures and Basel III disclosures. For a detailed discussion, we refer you to the Credit Suisse second quarter 2021 financial report published this morning.
I will now hand over to our Group CEO, Thomas Gottstein; and our Group CFO, David Mathers, who will run through the numbers.
Thomas Gottstein
Group Chief Executive Officer
Thank you, Kinner. Good morning. Thank you for joining our call to discuss our second quarter and first half 2021 results.
Credit Suisse Outlines Agenda For 2021
ZURICH (dpa-AFX) - Credit Suisse Group AG (CS) is outlining its ambitious and achievable growth agenda for 2021 and beyond, including broad-based investment initiatives to accelerate growth in its Wealth Management-related businesses and its Investment Bank.
The company said it also expects to further expand the connectivity between its Investment Bank and the Wealth Management-related divisions.
The company commits to develop Science Based targets within the next 24 months, including commitment to align its operations and financing to net zero emissions over the coming decades.
The company reconfirmed medium-term ambition of a Return on Tangible Equity (RoTE) of 10% to 12%.
Credit Suisse reiterates 10per cent-12per cent return on tangible equity ambition Toggle share menu
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Credit Suisse reiterates 10per cent-12per cent return on tangible equity ambition Credit Suisse reiterated its key financial target on Tuesday, as Switzerland s second-biggest bank laid out plans to boost growth in wealth management and investment banking and revamp its asset management business.
FILE PHOTO: Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland September 2, 2020 REUTERS/Arnd Wiegmann/File Photo 2 related media assets (image or videos) available. Click to see the gallery.
15 Dec 2020 02:20PM Share this content
Credit Suisse postpones 10%-12% return on tangible equity ambition
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Bern
ZURICH (Reuters) – Credit Suisse on Tuesday reiterated its key financial ambition for a 10%-12% return on tangible equity in the medium term but avoided re-committing to the 10% goal previously set for this year.
Switzerland’s second-biggest bank also laid out plans to boost growth in wealth management, aiming to grow wealth-related pre-tax profit to 5.0 – 5.5 billion Swiss francs ($5.64- $6.20 billion) by 2023 or approximately 10% annually, as well as investment banking.
It said it expected to turn around its asset management business in 2021 by focusing more on alternative and private market offerings, and those related to sustainable investing.