Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

Swiss banking major Credit Suisse reported a CHF 2bn ($2.2bn) net loss in its Q4 results vs. a CHF 353mn ($381mn) loss in Q4 2020. Net revenues were down 12% YoY to CHF 4.6bn ($5bn) “impacted by a reduced risk appetite across the Group in 2021, a negative impact on our franchise momentum and a return to a more normal trading environment”. The bank had already warned of a Q4 loss, after taking a CHF 1.6bn ($1.7bn) impairment charge due to restructuring in the investment bank and exiting the hedge fund serving business alongside a fresh legal provision of CHF 500mn ($545mn) to settle legacy cases. Its large wealth management business slowed down with adjusted net revenues staying flat, concerning analysts as they see the unit as key for future growth. The group’s CET 1 ratio stood at 14.4% vs. 12.9% a year ago.

Credit Suisse’s 6.375% perps callable in August 2026 are currently trading at 103.5 to yield 5.49%.

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