29 Jul 2021

Q2 21 still hit by the Archegos default as expected

Credit Suisse Group AG (CSGN:SWX) | 0 0 0.0%

- Dieter Hein
- 3 pages

• Revenues were down by 18% to CHF5.1bn for Q2 21 compared to Q2 20. • CHF594m charge on the Archegos default was partly offset by a pre-tax gain of CHF298m from Allfunds. • Pre-tax profit was down by 48% to CHF813bn for Q2 21 compared to a strong Q2 20 result. The high tax ratio burdened net profit. • Net new money outflow was CHF4.7bn for Q2 21 compared to an inflow of CHF9.8bn for Q2 20.

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Q2 21 still hit by the Archegos default as expected

Credit Suisse Group AG (CSGN:SWX) | 0 0 0.0%

Published: 29 Jul 2021
Author: Dieter Hein
Pages: 3

• Revenues were down by 18% to CHF5.1bn for Q2 21 compared to Q2 20. • CHF594m charge on the Archegos default was partly offset by a pre-tax gain of CHF298m from Allfunds. • Pre-tax profit was down by 48% to CHF813bn for Q2 21 compared to a strong Q2 20 result. The high tax ratio burdened net profit. • Net new money outflow was CHF4.7bn for Q2 21 compared to an inflow of CHF9.8bn for Q2 20.