CREDIT SUISSE GROUP AG (CS) Stocks
ABOUT CREDIT SUISSE GROUP AG
Credit Suisse Group AG, a Swiss multinational investment bank and financial services company, was founded in 1856 and has its headquarters in Zürich, Switzerland. The bank also has outlets in all of the world’s major financial centres. It is one of the eight global “Bulge Bracket” banks that offer services such as private- and investment banking, asset management and other shared services. Credit Suisse is renowned for strict secrecy practices.
The company was originally established in 1856 to fund the development of the rail system in Switzerland. In the early 1900s it ventured into retail banking to accommodate the elevation of the middle class and to counter competition from fellow Swiss Banks Julius Bär. The bank continued to extend its footprint. It increased its market share considerably between 1990 and 2000 through various acquisitions such as Swiss Volksbank, Swiss American Securities Inc. (SASI) and Bank Lue, to name but a few.
Credit Suisse was one of the least affected banks during the global financial crisis. Credit Suisse Group AG is organised as a joint-stock company operating as a holding company. It is registered in Zürich. The company is governed by a board of directors, independent auditors and its shareholders. It business strategies are determined by the board. The latter also has the authority to create committees that oversee specific management functions.
Today, the company employs approximately 47 000 people across its operations.
HISTORY OF CREDIT SUISSE GROUP AG
- Credit Suisse Group AG conducts its operations through three regionally focused segments: Swiss Universal Bank, International Wealth Management, and Asia Pacific. These segments are supported by two divisions focused on investment banking capabilities: Global Markets and Investment Banking & Capital Markets.
- The company also has a Shared Services department that offers support functions like risk management, legal, IT and marketing. It operates according to four regions: Switzerland, Europe, the Middle East and Africa, Asian Pacific and the Americas.
- The Credit Suisse CreditRisk+model of risk assessment in loans focus on the chance of default based on the exogenous Poisson method. As of 2002 the company derives approximately 20% of its revenue from its insurance business which it gained via the acquisition of Winterthur in 1997.
- The bank offers auto, property, fire, life, disability, pension and retirement insurance products. The company also produces one of the six hedge funds following European stock indices used to evaluate the overall performance of markets. Credit Suisse is a member of Wall Street’s bulge bracket which is a list of the nine of the biggest and most profitable banks in the world.
VISION & VALUES OF CREDIT SUISSE GROUP AG
- Credit Suisse Group AG follows and integrated environmental, social and governance approach in all of its business processes and investments. The company assists shareholders who purchase company shares to achieve their objective of attractive returns through offering services such as risk mitigation and portfolio diversification.
- Its business model is deeply rooted in values such as integrity, responsibility, respect, compliance, confidentiality and trust.
MARKET PERFORMANCE OF CREDIT SUISSE GROUP AG
- Credit Suisse Group AG trades on the New York Stock Exchange (NYSE) under the stock symbol “CS”.
- For the second quarter 2019, the company recorded net income of CHF 937 million which equates to a 45% increase year-on-year. Global Markets revenue increased by 8% year- on-year and Fixed Income sales and trading also rose by 11%.
- The company returned CHF1.3 billion of capital to shareholders. This solid performance affords the company’s shareholders the confidence to buy or sell company shares in the expectation of attractive dividends and returns.