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发帖数: 18523 | 1 Credit Suisse Net Misses Estimates, Profitability Target Cut
Credit Suisse Net Misses Estimates, Profitability Target Cut
Feb. 10 (Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-largest
bank, reported fourth-quarter earnings
that missed analysts’ estimates and cut its goal for profitability.
Net income rose to 841 million Swiss francs ($876 million) from 793 million
francs a year earlier, the Zurich-based bank
said in a statement today. Earnings fell short of the 928 million-franc
average estimate of 18 analysts surveyed by
Bloomberg. The bank will now aim for a return on equity, a measure of
profitability, of more than 15 percent, down from
more than 18 percent previously. The return in 2010 was 14.4 percent.
Credit Suisse, which hasn’t taken government assistance in the credit
crisis, cut risk-taking at its investment bank and
made it more reliant on client revenue. The bank’s share of more than $146
billion in revenue from trading and advising
clients that the biggest investment banks made in the first nine months of
2010 was 8 percent, compared with a 13
percent share it took in 2007, data compiled by Bloomberg show.
“Credit Suisse emerged from the credit crisis with the perception of being
one of the ‘winners’ with investors generally
believing it stood to make significant market share gains as a result,”
analysts at Evolution Securities Ltd. led by Piers
Brown said in a note before today’s release. The investment bank “instead
posted substantial earnings misses in each
quarter of 2010 so far.”
Credit Suisse gained 19 percent in Zurich trading so far this year, after
falling 26 percent in 2010. That compares with
a 21 percent gain at UBS AG, Switzerland’s biggest bank, and a 13 percent
increase in the 48-company Bloomberg
Europe Banks and Financial Services Index. | a******7
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: 什么是STD呀, 悄悄问...
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BANCO SANTANDER S.A. (STD: NYSE) | j*******y
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