In connection with its Annual General Meeting, Credit Suisse Group today announced that it expects to report net income of approximately CHF 1.8 billion (Euro 1.2 billion) for the first quarter of 2004. The Group´s first quarter results - which will be reported under US GAAP for the first time - will be published in full on May 5, 2004.
Credit Suisse Group anticipates that it will record net income of approximately CHF 1.8 billion (Euro 1.2 billion) for the first quarter of 2004. Credit Suisse Financial Services expects to report net income of approximately CHF 1.1 billion (Euro 0.7 billion) for the first quarter of 2004, reflecting very good performance across all of its businesses, as well as strong net new asset growth in Private Banking. Credit Suisse First Boston expects to report net income of approximately CHF 750 million (Euro 490 million) for the first quarter of 2004, driven by strong revenue growth, improved market trading opportunities and cost discipline.
Oswald J. Grübel and John J. Mack, Co-CEOs of Credit Suisse Group, said: 'The Group has achieved a very promising start to 2004, with strong results across all segments, enhanced by healthy levels of client activity and more favorable economic conditions. We are particularly pleased by our strong first quarter performance in Private Banking, as well as by the positive results at Credit Suisse First Boston, which demonstrate its operating leverage.'
The Group´s first quarter results will be published in full on May 5, 2004.
Source: Credit Suisse
