Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

Key highlights

  • Profit before tax USD (255m) driven by integration-related expenses; underlying1 PBT of USD 844m in the first full quarter since acquisition with positive operating leverage at the Group level and underlying PBT growth in GWM, P&C and AM compared to estimated underlying 2Q232
  • Net new money of USD 22bn in Global Wealth Management (GWM) driven by asset win-back, new clients and share-of-wallet gains; positive NNM in Credit Suisse Wealth Management (CS WM) for the first time since 1Q22
  • Net new deposits of USD 33bn across GWM and Personal and Corporate Banking (P&C), with USD 22bn from Credit Suisse clients; positive deposit inflows in P&C in September, the month after announcing the decision to integrate Credit Suisse (Schweiz)
  • Released USD ~1bn of CET1 capital through accelerated wind-down of Non-core and Legacy (NCL) assets; reduced RWA by USD 6bn and LRD by USD 52bn sequentially, primarily from active unwinds
  • Maintained a balance sheet for all seasons with 14.4% CET1 capital ratio and USD 195bn of total loss-absorbing capacity; issued USD 7.5bn of combined TLAC and benchmark OpCo debt with pricing in line with pre-acquisition levels
  • Achieved USD 3bn in gross run-rate saves in 9M23 vs. FY22, further progress expected in 4Q23