Credit Suisse restates historical financial information
Credit Suisse has announced that it will restate historical financial information about the group to reflect its new structure, which implements divisional reporting.
The overall consolidated results for the group will not change as a result, but users of its financial data will be able to see spreadsheets providing a different view of its divisions, covering all quarters in 2013 and 2014, as well as the first three quarters of 2015 – the group announced its new structure on 21 October 2015.
Credit Suisse will be formed of three regionally focused divisions – Switzerland, Asia Pacific and International Wealth Management – and two global divisions – Global markets and Investment Banking & Capital Markets.
Results from the divisions will be reported starting with data from the fourth quarter of 2015, as well as applied to the full year 2015 results. Including the five divisions mentioned and a sixth – the Strategic Resolution Unit, which consolidates portfolios from non strategic units and businesses that are no longer part of the company’s “strategic direction” – the reporting henceforth will consist of six reporting segments.