Post Earnings Coverage as Credit Suisse Q1 Top-line Surged 19%

Upcoming AWS Coverage on East West Bancorp Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 3, 2017 / Active Wall St. announces its post-earnings coverage on Credit Suisse Group AG (NYSE: CS). The Company released its financial results for the first quarter fiscal 2017 (Q1 FY17) on April 26, 2017. The Zurich, Switzerland-based bank’s quarterly net revenues have surged 19% y-o-y. Register with us now for your free membership at:

http://www.activewallst.com/register/

One of Credit Suisse Group’s competitors within the Foreign Money Center Banks space, East West Bancorp Inc. (NASDAQ: EWBC), reported its financial results for Q1 2017 on April 19, 2017. AWS will be initiating a research report on East West Bancorp in the coming days.

Today, AWS is promoting its earnings coverage on CS; touching on EWBC. Get our free coverage by signing up to:

http://www.activewallst.com/register/

Earnings Reviewed

In the three months ended on March 31, 2017, Credit Suisse’s net revenues surged 19% y-o-y to CHF5.53 billion from CHF4.64 billion in Q1 FY16. Furthermore, the bank’s adjusted net revenues for the reported quarter came in at CHF5.52 billion compared to CHF4.69 billion in Q1 FY16. Net interest income fell to CHF1.63 billion from CHF2.01 billion in Q1 FY16. Commissions and fees grew to CHF3.05 billion in Q1 FY17 from CHF2.68 billion in the prior year’s same quarter.

The financial services Company reported net income attributable to shareholders of CHF596 million, or CHF0.27 per diluted share in Q1 FY17, against net loss attributable to shareholders CHF302 million, or CHF0.15 loss per diluted share, in Q1 FY16.

Performance Metrics

During Q1 FY17, Credit Suisse reported net loans of CHF276.37 billion, which came in 2% above CHF270.25 billion in Q1 FY16. However, total asset fell marginally to CHF811.98 billion in Q1 FY 17 from CHF813,90 billion in Q1 FY16.

In Q1 FY17, assets under management grew to CHF1.30 billion from CHF1.18 billion in the last year’s same quarter. For Q1 FY17, Credit Suisse’s net new assets increased to CHF24.4 million from CHF10.2 million in the previous year’s comparable period. The Company’s return on equity attributable to shareholders stood at 5.7% in Q1 FY17 compared to a negative return of 2.6% reported in the year ago same quarter. Furthermore, the bank’s return on tangible equity attributable to shareholders was 6.5% in Q1 FY17 versus negative return of 3.0% in Q1 FY16.

As on March 31, 2017, the bank’s common equity tier 1 ratio was 12.7% compared with 13.6% as on March 31, 2016. The bank’s book value per share as on March 31, 2017, was CHF20.01, compared to CHF23.12 as on March 31, 2016. Furthermore, tangible book value per share at the end of the reported quarter stood at CHF17.60 versus CHF20.61 as on March 31, 2016.

Division Performance

For the reported period, Swiss Universal Bank’s net revenues came in at CHF1.35 billion compared to CHF1.36 billion in the previous year’s corresponding quarter. Meanwhile, the division’s income before taxes fell 6% to CHF404 million in Q1 FY17 from CHF432 million in Q1 FY16.

International Wealth Management division’s net revenues grew to CHF1.22 billion in Q1 FY17 from CHF1.17 billion in the prior year’s same quarter. However, the division’s income before taxes fell 3% to CHF291 million in Q1 FY17 from CHF300 million in the prior year’s same quarter.

Credit Suisse’s Asia/Pacific division net revenues of CHF881 million in Q1 FY17 compared to CHF907 million in the prior year’s comparable quarter. The division’s income before taxes was CHF147 million in Q1 FY17 versus CHF264 million in Q1 FY16.

During the reported quarter, Global Markets net revenues were up by 29% to CHF1.61 billion from CHF1.25 billion in Q1 FY16. Furthermore, the division reported income before taxes of CHF317 million against losses before taxes of CHF198 million in the previous year’s same quarter.

Investment Banking & Capital Markets’ net revenues surged 56% in Q1 FY17 to CHF606 million from CHF388 million in Q1 FY16. Additionally, the division’s income before taxes stood at CHF149 million in Q1 FY17 compared to losses before taxes of CHF62 million in Q1 FY16.

Stock Performance

At the close of trading session on Tuesday, May 02, 2017, Credit Suisse Group’s stock price rose slightly by 0.26% to end the day at $15.36. A total volume of 3.80 million shares were exchanged during the session. The Company’s share price has gained 9.25% in the past six months and 7.34% on a YTD basis. The stock currently has a market cap of $32.31 billion and has a dividend yield of 4.69%.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 461699