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    .credit-suisse Supplement: MS Excel Spreadsheets .credit-suisse Supplement: MS Excel Spreadsheets Document Transcript

    • Credit Suisse Group FINANCIAL HIGHLIGHTS 2000 Share data Change 31 Dec. 2000 31 Dec. 1999 in % 300,437,990 Number of shares issued 272,206,488 10 300,437,990 Shares ranking for dividend 272,206,488 10 277,775,022 Average 271,310,760 2 300,635,025 273,842,638 10 Shares ranking for dividend as of 5.3.2001/31.3.2000 92,535 Market capitalisation (in CHF m) 86,153 7 2000 1999 Change in CHF in CHF in % Share price (as of 5.3.2001: CHF 295) 308 at year-end 316.5 (3) 312 for inclusion in Swiss tax returns 302 3 388.5 year high 316.5 23 293 year low 212 38 8 Repayment of capital 1)/dividend 7 14 1) Repayment of capital: proposal of the Board of Directors to the Annual General Meeting on 1 .6.2001 1) Previously New basis reported Change to previously 2000 1999 1999 reported in CHF in CHF in CHF in % 20.83 Earnings per share 15.66 19.24 8 25.98 Operating earnings per share 16.07 19.65 32 1) 20.75 Earnings per share - diluted 15.54 19.11 9 25.89 Operating earnings per share - diluted 1) 15.95 19.48 33 136.30 Book value per share 108.48 119.84 14 Excl. amortisation of acquired intangible assets and goodwill as well as excluding restructuring provision 1)
    • Credit Suisse Group Previously Change to New basis reported previously 2000 Consolidated income statement 1999 1999 reported in CHF m in CHF m in CHF m in % 37,231 Operating income 26,644 27,870 34 12,083 Gross operating profit 7,863 9,132 32 7,218 Net operating profit 1) 4,360 5,330 35 5,785 Net profit 4,250 5,221 11 10,734 Cash flow 7,008 7,983 34 Previously Change to New basis reported previously 2000 Return on equity (ROE) 1999 1999 reported in % in % in % in % 17.7 Credit Suisse Group - Reported ROE 15.6 18.2 (3) 21.5 - Operating ROE 1) 16.0 18.5 16 18.2 Banking business - Reported ROE 22.1 22.1 (17) 23.1 - Operating ROE 1) 22.4 22.4 3 16.2 Insurance business - Reported ROE 1.5 11.0 47 16.6 - Operating ROE 1) 1.6 11.1 50 26.3 - Return on invested capital (ROIC) n/a 18.0 46 Previously Change to New basis reported previously 31 Dec. 2000 Consolidated balance sheet 31 Dec. 1999 31 Dec. 1999 reported in CHF m in CHF m in CHF m in % 987,433 Total assets 729,022 722,746 37 43,522 Shareholders' equity 30,683 34,368 27 2,571 Minority interests in shareholders' equity 1,154 1,747 47 Previously Change to New basis reported previously 31 Dec. 2000 BIS data 31 Dec. 1999 31 Dec. 1999 reported in CHF m in CHF m in CHF m in % 239,465 BIS risk-weighted assets 209,870 213,298 12 27,111 BIS tier 1 capital 24,833 28,261 (4) 1,102 – of which non-cumulative perpetual preferred securities 200 200 451 43,565 BIS total capital 37,414 40,843 7 BIS ratios in % in % in % BIS tier 1 ratio 7.1 Credit Suisse 6.8 6.8 13.6 Credit Suisse First Boston 2) 9.9 9.9 11.3 Credit Suisse Group 3) 11.8 13.2 18.2 BIS total capital ratio Credit Suisse Group 17.8 19.1 31 Dec. 2000 in Assets under management 31 Dec. 1999 Change CHF bn in CHF bn in % 797.4 Advisory assets under management 631.9 26.2 619.6 Discretionary assets under management 556.2 11.4 1,417.0 Total assets under management 1,188.1 19.3 53.3 Net new assets 41.9 27.2 Number of employees Change 31 Dec. 2000 31 Dec. 1999 in % 28,235 Switzerland 27,454 3 52,303 Outside Switzerland 36,509 43 80,538 Total employees Credit Suisse Group 63,963 26 Excl. amortisation of acquired intangible assets and goodwill (2000: CHF 359 m; 1999: CHF 110 m), as well as excl. restructuring provision of CHF 1,074 m, all after tax. 1) Ratio is based on a total tier 1 capital of CHF 17.6 bn, of which non-cumulative perpetual preferred securities are CHF 1.1 bn. 2) Ratio is based on a total tier 1 capital of CHF 27.1 bn, of which non-cumulative perpetual preferred securities are CHF 1.1 bn. 3)
    • Credit Suisse Group Overview of business unit results 2000 in CHF m Credit Credit Credit Credit Adjustments Suisse Suisse Suisse Suisse including Credit Financial Private Asset First Corporate Suisse Services Banking Management Boston Center Group Operating income 9,520 6,251 1,562 20,363 (465) 37,231 Operating expenses 6,135 2,617 1,137 15,645 (386) 25,148 Gross operating profit 3,385 3,634 425 4,718 (79) 12,083 1,353 Depreciation and write-offs on non-current assets 356 41 29 644 283 1) 1,265 Valuation adjustments, provisions and losses 563 160 0 537 5 2) Profit before extraordinary items, taxes 2,466 3,433 396 3,537 (367) 9,465 1) 192 Extraordinary expenses/(income), net 3) (20) (1) 1 0 212 1,818 Taxes 3) 547 766 57 925 (477) Net operating profit before minority interests 1,939 2,668 338 2,612 (102) 7,455 1) 3) 359 Amortisation of acquired intangible assets, net of tax, and goodwill 48 7 52 254 (2) 1,074 Restructuring provision, net of tax 1,074 Net profit before minority interests 1,891 2,661 286 2,358 (1,174) 6,022 (237) Minority interests (147) (29) 0 (3) (58) Net profit 1,744 2,632 286 2,355 (1,232) 5,785 Net operating profit 1,792 2,639 338 2,609 (160) 7,218 1) 3) Value added 1,134 2,456 215 1,107 (564) 4,348 4) Average allocated equity capital 10,093 3,117 1,147 11,968 5) Return on average equity capital 18.7% n/a n/a 19.7% 5) Return on average equity capital (operating) 1) 19.2% n/a n/a 21.8% 5) Equity capital allocation as of 1.1.2001 13,873 3,031 1,296 16,346 Excl. amortisation of acquired intangible assets and goodwill. 1) (151) (40) Net of allocation (-)/release (+) of reserves for general banking risks. 0 6 2) Excl. restructuring provision. 3) Value added is a measure of value creation in the period under review. It is derived from Credit Suisse Group’s Value Based Analysis (VBA) and complements the performance 4) metrics which are currently used, but does not replace them. The measure is aimed at enhancing management’s awareness of value creation. For this purpose, accounting figures are adjusted by adding back accounting distortions such as selected non-cash charges (e.g. goodwill), and cost of equity is charged to the business unit as well as to consolidated accounts. For Winterthur Group within Credit Suisse Financial Services, average invested capital is used for calculation of return on invested capital (ROIC). 5)
    • Credit Suisse Group Key performance indicators Long-term Key criteria objective 2000 Credit Suisse Group Net new asset growth >6% 4.5% Operating return on equity (ROE) 1) 18-22% 21.5% Credit Suisse Financial Services Net new asset growth 6% 2.9% Operating return on equity (ROE) 1) 2) 20% 19.2% Credit Suisse Banking: operating cost/income 60% 64.6% Winterthur Life & Pensions: net return on technical provisions 60-65 bp 68 bp Winterthur Insurance: combined ratio 103% 106.5% Credit Suisse Private Banking Net new asset growth 5% 4.4% Net operating margin on assets under management 45-50 bp 54 bp Credit Suisse Asset Management Discretionary net new asset growth 10% 7.5% 8 bp 7.5 bp Operating net profit margin on assets under management Credit Suisse First Boston Market share Increase market share Achieved Operating return on equity (ROE) 1) – in a good market environment >20% 21.8% – over market cycles 15-20% Excl. amortisation of acquired intangible assets and goodwill, as well as excl. restructuring provision. 1) For Winterthur Group within Credit Suisse Financial Services, average invested capital is used for calculation of return on invested capital (ROIC). 2)
    • Credit Suisse Group Overview of assets under management 1) 31 Dec. 2000 31 Dec. 1999 Change in CHF bn in CHF bn in % Credit Suisse Financial Services 303.0 278.2 8.9 8.1 - of which net new assets 2) 3) 11.1 (27.0) 153.6 - of which discretionary 136.8 12.3 Credit Suisse Private Banking 488.2 476.7 2.4 21.0 - of which net new assets 3) 11.6 81.0 101.1 - of which discretionary 95.2 6.2 Credit Suisse Asset Management 487.2 424.6 14.7 24.4 - of which net new assets 3) 4) 18.5 31.9 360.1 - of which discretionary 324.2 11.1 Credit Suisse First Boston 142.1 10.6 - 1.6 - of which net new assets 3) 1.6 0.0 6.6 - of which discretionary 1.4 371.4 31.5 - of which Private Equity 5.7 452.6 Credit Suisse Group (consolidated) 1,417.0 1,188.1 19.3 53.3 - of which net new assets 3) 41.9 27.2 619.6 - of which discretionary 556.2 11.4 As of 1.1.2000, assets under management include assets which are held for investment purposes. For the insurance business, assets under management include all investment assets underlying insurance contracts. Not included are 1) corporate liquidity funds, wholesale custody, banking and broking assets, except for assets of corporate clients of Credit Suisse in Switzerland. The previous year's figures have been adjusted accordingly. 1999 net new asset figure adjusted for short term/extraordinary asset inflows. 2) 3) Net new assets exclude interest and dividends. Net new discretionary assets. 4)
    • Credit Suisse Group OVERVIEW OF BUSINESS AREA Credit Suisse Financial Services 2000 in CHF m Personal Credit Financial Suisse Winterthur Winterthur Credit Services Financial Insurance Life & Pensions Suisse Europe Services Operating income 3,459 2,075 3,925 61 9,520 1) 1) Operating expenses 2,160 1,208 2,450 317 6,135 1) 1) Gross operating profit 1,299 867 1,475 (256) 3,385 1) 1) Depreciation and write-offs on non-current assets 2) 159 101 84 12 356 0 0 562 1 563 Valuation adjustments, provisions and losses 3) Profit before extraordinary items, taxes 3) 1,140 766 829 (269) 2,466 Extraordinary expenses/(income), net 0 0 (20) 0 (20) Taxes 305 101 203 (62) 547 Net operating profit before minority interests 1) 835 665 646 (207) 1,939 Amortisation of acquired intangible assets, net of tax, and goodwill 16 15 12 5 48 Net profit before minority interests 819 650 634 (212) 1,891 Minority interests (90) (56) (1) 0 (147) Net profit 729 594 633 (212) 1,744 Net operating profit 745 609 645 (207) 1,792 1) Average allocated equity capital 5,580 4) 4,401 112 10,093 4) Return on average equity capital 26.3% 14.4% n/a 18.7% 4) 4) Return on average equity capital (operating) 26.9% 14.7% n/a 19.2% 4) 2) 4) Equity capital allocation as of 1.1.2001 9,149 4,697 27 13,873 Assets under management (in CHF bn) 32.5 116.1 147.8 6.6 303 - - of which net new assets 0.7 4.8 2.6 8.1 - of which discretionary 32.5 116.1 2.5 2.5 153.6 Defined as premiums earned (net), less claims incurred and expenses for processing claims, as well as actuarial provisions, less commissions (net), plus investment income from insurance business; expenses from the handling of 1) both claims and investments are allocated to revenue; personnel expenses non-life: CHF 400 m, life: CHF 125 m; other operating expenses non-life: CHF 214m, life: CHF 141 m. Excl. amortisation of acquired intangible assets, net of tax, and goodwill. 2) - - - (151) (151) Net of allocation (-)/release (+) of reserves for general banking risks. 3) For Winterthur Group, average invested capital is used for calculation of return on invested capital (ROIC). 4)
    • Credit Suisse Group Winterthur Previously Change to (non-life business) New basis reported previously 2000 1999 1999 reported in CHF m in CHF m in CHF m in % 16,508 Gross premiums 13,993 18 13,901 14,632 Net premiums 12,678 15 12,604 13,519 Premiums earned, net 12,102 12 12,057 (10,432) Claims incurred, net 14 (9,145) (9,144) (376) Dividends to policyholders incurred, net 21 (387) (312) (3,969) Operating expenses, net (including commissions paid) (3,639) (3,591) 11 Underwriting result, net (1,258) (1,114) (945) 33 2,385 Net investment income 1,691 1,942 23 96 Interest on deposits and bank accounts 90 70 37 (136) Other interest paid 81 (78) (75) 53 Other income and expenses (including exchange rate differences) 1) 26 (35) - Profit before extraordinary items and taxes 1,140 615 957 19 26,653 Technical provisions as of 31.12. 25,422 23,041 16 106.5% Combined ratio (excl. dividends to policyholders) 106.0% 105.2% 1 77.2% Claims ratio 75.8% 75.6% 2 29.4% Expense ratio 30.2% 29.7% (1) 197.2% Insurance reserve ratio 210.8% 190.4% 4 32.5 Assets under management as of 31.12. in CHF bn 31.4 31.6 3 21,796 Number of employees as of 31.12. 20,662 20,662 5 Excl. amortisation of goodwill. 1) Winterthur Previously Change to (life business) New basis reported previously 2000 1999 1999 reported in CHF m in CHF m in CHF m in % 15,452 Gross premiums 8 14,182 14,264 15,172 Net premiums 7 14,089 14,170 15,171 Premiums earned, net 8 14,090 14,101 (9,734) Claims incurred, net 26 (8,033) (7,726) (6,377) Change in actuarial provision, net (21) (7,944) (8,092) (1,982) Allocation to participation, net 7 (1,384) (1,846) (1,680) Operating expenses, net (including commissions paid) 9 (1,257) (1,535) 6,051 Net investment income 3 5,048 5,865 88 Interest on deposits and bank accounts 135 (29) 124 (116) Interest on bonuses credited to policyholders (11) (117) (130) (239) Other interest paid 10 (220) (217) (416) Other income and expenses (including exchange rate differences) 1) (722) 17 - Profit before extraordinary items and taxes 766 (404) 561 37 105,522 Technical provisions as of 31.12. 25 88,559 84,519 11.1% Expense ratio 8.9% 10.9% 2 68 bp Net return on technical provisions (33) bp 65 bp 5 106.2% Claims incurred and change in actuarial provision in relation to premiums earned 113.4% 112.2% (5) 116.1 Assets under management as of 31.12. in CHF bn 16 102.0 100.4 6,562 Number of employees as of 31.12. 27 5,167 5,167 1) Excl. amortisation of goodwill.
    • Credit Suisse Group CREDIT SUISSE Income statement 2000 1999 Change in CHF m in CHF m in % 2,378 Net interest income 2,227 7 1,159 Net commission and service fee income 946 23 342 Net trading income 230 49 46 Other ordinary income 75 (39) Operating income 3,925 3,478 13 1,535 Personnel expenses 1,401 10 915 Other operating expenses 866 6 Operating expenses 2,450 2,267 8 Gross operating profit 1,475 1,211 22 84 Depreciation and write-offs on non-current assets 1) 38 121 562 Valuation adjustments, provisions and losses 2) 610 (8) Profit before extraordinary items, taxes 829 1) 563 47 (20) Extraordinary expenses/(income), net (34) (41) 203 Taxes 130 56 Net operating profit before minority interests 646 1) 467 38 12 Amortisation of goodwill 13 (8) Net profit before minority interests 634 454 40 (1) Minority interests (3) (67) Net profit 633 451 40 Net operating profit 645 1) 464 39 Excl. amortisation of goodwill. 1) (151) Net of allocation (-)/release (+) of reserves for general banking risks. (68) 2)
    • Credit Suisse Group CREDIT SUISSE Balance sheet information 31 Dec. 2000 31 Dec. 1999 in CHF m in CHF m 103,063 Total assets 99,903 29,042 Due from customers 27,816 64,616 Mortgages 63,024 33,511 Due to customers in savings and investment accounts 36,330 31,391 Due to customers, other 28,530
    • CREDIT SUISSE Balance sheet information 31 Dec. 2000 31 Dec. 1999 in CHF m in CHF m 103,063 Total assets 99,903 29,042 Due from customers 27,816 64,616 Mortgages 63,024 33,511 Due to customers in savings and investment accounts 36,330 31,391 Due to customers, other 28,530 Credit Suisse Group Ratios/Key performance indicators 2000 1999 4,401 Average allocated equity capital CHF m 4,411 Allocated equity capital in 4,697 CHF m ( 1.1.2001/2000) 4,611 7.1% BIS tier 1 ratio as of 31.12. 1) 6.8% 64.9% Cost/income ratio 66.6% 64.6% Cost/income ratio 66.3% 2) 14.4% Return on average equity capital (reported) 10.3% 14.7% Return on average equity capital (operating) 10.6% 2) 11,701 Number of employees as of 31.12. 11,404 21.3% Pre-tax margin (reported) 16.8% 21.6% Pre-tax margin (operating) 17.2% 2) 62.7% Personnel expenses/operating expenses 61.8% 39.1% Personnel expenses/operating income 40.3% 235 Number of branches as of 31.12. 239 2.39% Net interest margin 2.35% 3.7% Loan growth 7.8% 69.3% Deposit/loan ratio as of 31.12. 71.4% 147.8 Assets under management in CHF bn as of 31.12. 140.8 1) Legal entity Credit Suisse. 2) Excl. amortisation of goodwill.
    • Credit Suisse Group PERSONAL FINANCIAL SERVICES EUROPE Key performance indicators Credit Suisse (Italy) youtrade Total 31 Dec. 2000 31 Dec. 2000 31 Dec. 2000 31 Dec. 1999 31 Dec. 1999 31 Dec. 1999 6.6 5.6 1.0 4.5 Assets under management (in CHF bn) 4.0 0.5 18,587 25,228 43,815 Number of clients 12,395 9,603 21,998 331 Number of personal bankers 230
    • Credit Suisse Group CREDIT SUISSE PRIVATE BANKING Income statement 2000 1999 1) Change in CHF m in CHF m in % 1,247 Net interest income 898 39 4,171 Net commission and service fee income 1) 3,187 31 752 Net trading income 592 27 81 Other ordinary income 1) 38 113 Operating income 6,251 4,715 33 1,734 Personnel expenses 1,418 22 883 Other operating expenses 768 15 Operating expenses 2,617 2,186 20 Gross operating profit 3,634 2,529 44 41 Depreciation and write-offs on non-current assets 2) 39 5 160 Valuation adjustments, provisions and losses 55 191 3) Profit before extraordinary items, taxes 2) 3,433 2,435 41 (1) Extraordinary expenses/(income), net (18) (94) 766 Taxes 516 48 Net operating profit before minority interests 2,668 2) 1,937 38 7 Amortisation of goodwill 7 0 Net profit before minority interests 2,661 38 1,930 (29) Minority interests (19) 53 Net profit 2,632 38 1,911 Net operating profit 2,639 2) 38 1,918 Reclassification of trust income from other ordinary income to net commission 1) and service fee income beginning from 1.1.2000. Excl. amortisation of goodwill. 2) (40) Net of allocation (-)/release (+) of reserves for general banking risks. (31) 3)
    • Credit Suisse Group CREDIT SUISSE PRIVATE BANKING Balance sheet information 31 Dec. 2000 31 Dec. 1999 in CHF m in CHF m 101,153 Total assets 99,651 33,717 Due from customers 31,902 9,206 – of which secured by mortgages 7,667 22,621 – of which secured by other collateral 22,731 Ratios/key performance indicators 2000 1999 3,117 Average allocated equity capital in CHF m 2,771 3,031 Allocated equity capital in CHF m (1.1.2001/2000) 2,875 42.6% Cost/income ratio 47.3% 42.5% Cost/income ratio 1) 47.2% 8,665 Number of employees as of 31.12. 8,371 54.8% Pre-tax margin (reported) 51.9% 54.9% Pre-tax margin (operating) 1) 52.0% 66.7% Fee income/operating income 2) 67.6% 159.4% Fee income/operating expenses 145.8% 2) 488.2 Assets under management in CHF bn as of 31.12. 476.7 2.4% Growth in assets under management 18.4% 4.4% – of which net new assets 2.9% 3) (2.0%) – of which market movement and structural effects 15.5% 53 bp Net profit before minority interests/average AuM 44 bp 54 bp Net operating profit before minority interests/average AuM 1) 45 bp Excl. amortisation of goodwill. 1) Incl. reclassified trust income. 2) Excl. interests and dividends. 3)
    • Credit Suisse Group CREDIT SUISSE ASSET MANAGEMENT Income statement 2000 1999 Change in CHF m in CHF m in % 1,006 Management and advisory fees 757 33 513 Net mutual fund fees 330 55 43 Other revenues 62 (31) Operating income 1,562 1,149 36 656 Personnel expenses 467 40 481 Other operating expenses 377 28 Operating expenses 1,137 844 35 Gross operating profit 425 305 39 29 Depreciation and write-offs on non-current assets 1) 22 32 0 - Valuation adjustments, provisions and losses 0 Profit before extraordinary items, taxes 1) 396 283 40 1 Extraordinary expenses/(income), net 2 (50) 57 Taxes 24 138 2) Net operating profit before minority interests 338 1) 257 32 52 Amortisation of acquired intangible assets, net of tax, and goodwill 22 136 2) Net profit before minority interests 286 235 22 0 Minority interests 0 - Net profit 286 235 22 Net operating profit 338 1) 32 257 Excl. amortisation of acquired intangible assets and goodwill. 1) Tax impact on amortisation of acquired intangible assets CHF 1 m in 2000. 2)
    • Credit Suisse Group CREDIT SUISSE ASSET MANAGEMENT Ratios/key performance indicators 2000 1999 1,147 Average allocated equity capital in CHF m 540 1,296 Allocated equity capital in CHF m (1.1.2001/2000) 1,054 78.0% Cost/income ratio 77.3% 74.6% Cost/income ratio 1) 75.4% 6.3 bp Net profit / average AuM 6.6 bp 7.5 bp Net operating profit / average AuM 7.2 bp 1) 2,350 Number of employees as of 31.12. 2,000 21.9% Pre-tax margin (reported) 22.5% 25.3% Pre-tax margin (operating) 1) 24.5% 57.7% Personnel expenses/operating expenses 55.3% 42.0% Personnel expenses/operating income 40.6% 487.2 Assets under management in CHF bn as of 31.12. 424.6 360.1 Discretionary funds in CHF bn as of 31.12. 324.2 136.9 Mutual funds distributed in CHF bn as of 31.12. 120.9 127.1 Advisory assets in CHF bn as of 31.12. 100.4 14.7% Growth in assets under management 43.1% 11.1% Growth in discretionary assets under management 52.8% 7.5% – of which net new assets 8.7% (8.1%) – of which market movement 27.1% 11.7% – of which acquisition 17.0% Excl. amortisation of acquired intangible assets and goodwill. 1)
    • Credit Suisse Group CREDIT SUISSE FIRST BOSTON Income statement 1) 2000 2000 1999 Change 1999 Change in CHF m in USD m in CHF m in % in USD m in % 4,874 2,919 Fixed Income 6,651 (27) 4,464 (35) 8,477 5,076 Equity 4,786 77 3,212 58 6,148 3,681 Investment Banking 3,453 78 2,318 59 447 268 Financial Services Group n/a - n/a - 417 250 Other (358) - (241) - Operating income 20,363 12,194 14,532 40 9,753 25 12,011 7,192 Personnel expenses 7,999 50 5,368 34 3,634 2,176 Other operating expenses 2,714 34 1,822 19 Operating expenses 15,645 9,368 10,713 46 7,190 30 Gross operating profit 4,718 2,826 3,819 24 2,563 10 644 386 371 74 249 55 Depreciation and write-offs on non-current assets 2) 537 322 786 (32) 527 (39) Valuation adjustments, provisions and losses 3) Profit before extraordinary items, taxes 2) 3,537 2,118 2,662 1,787 19 33 925 554 715 29 480 15 Taxes 4) Net operating profit before minority interests 2,612 1,564 2) 1,947 34 1,307 20 254 152 Amortisation of acquired intangible assets, net of tax, and goodwill 4) 66 285 45 238 Net profit before minority interests 2,358 1,412 1,881 25 1,262 12 (3) (2) Minority interests (1) 200 0 - Net profit 2,355 1,410 1,880 25 1,262 12 Net operating profit 2,609 1,562 2) 1,946 34 1,307 20 The business unit income statement differs from the Group's legal accounts 1) in presenting brokerage, execution and clearing expenses as part of operating expenses in common with US competitors, rather than netted against revenues. Excl. amortisation of acquired intangible assets and goodwill. 2) Net of allocation (-)/release (+) of reserves for general banking risks. 6 0 4 0 3) Tax impact on amortisation of acquired intangible assets CHF 42 m in 2000 and CHF 2 m in 1999. 4)
    • Credit Suisse Group CREDIT SUISSE FIRST BOSTON Balance sheet information 31 Dec. 2000 31 Dec. 1999 in CHF m in CHF m 669,758 Total assets 439,781 409,738 275,224 Total assets (in USD m) 245,345 Due from banks 169,030 208,094 – of which securities lending and reverse repurchase agreements 134,406 91,227 Due from customers 54,132 23,087 – of which securities lending and reverse repurchase agreements 23,783 19,566 Mortgages 7,352 192,301 Securities and precious metals trading portfolio 122,837 371,033 Due to banks 222,802 131,741 – of which securities borrowing and repurchase agreements 67,150 102,431 Due to customers, other 69,550 37,863 – of which securities borrowing and repurchase agreements 31,357 Ratios/key performance indicators 2000 1999 11,968 Average allocated equity capital in CHF m 9,925 16,346 Allocated equity capital in CHF m (1.1.2001/2000) 10,494 13.6% BIS tier 1 ratio as of 31.12. 1) 9.9% 81.4% Cost/income ratio 76.7% 80.0% Cost/income ratio 76.3% 2) 19.7% Return on average equity capital (reported) 19.0% 21.8% Return on average equity capital (operating) 2) 19.6% 28,122 Number of employees as of 31.12. 15,185 15.9% Pre-tax margin (reported) 17.9% 17.4% Pre-tax margin (operating) 18.3% 2) 76.8% Personnel expenses/operating expenses 74.7% 59.0% Personnel expenses/operating income 55.0% Ratio applies to the Credit Suisse First Boston legal entity and is based on a total tier 1 capital of CHF 17.6 bn, 1) of which non-cumulative perpetual preferred securities is CHF 1.1 bn. Excl. amortisation of acquired intangible assets and goodwill. 2)
    • Credit Suisse Group Previously Change to New basis reported previously 2000 1999 1999 reported CONSOLIDATED INCOME STATEMENT in CHF m in CHF m in CHF m in % 30,181 19,380 19,380 1) 2) Interest and discount income 56 5,865 4,127 4,127 Interest and dividend income from trading portfolios 42 706 471 471 2) Interest and dividend income from financial investments 50 (31,439) (18,640) (18,726) 1) Interest expenses 68 Net interest income 5,313 5,338 5,252 1 717 Commission income from lending activities 594 594 21 16,039 Commissions from securities and investment transactions 10,504 10,523 52 669 Commissions from other services 393 393 70 (829) Commission expenses (635) (640) 30 Net commission and service fee income 16,596 10,856 10,870 53 Net trading income 8,791 6,578 6,578 34 28,690 Premiums earned, net 26,146 26,203 9 (28,900) Claims incurred and actuarial provisions (26,893) (27,120) 7 (2,113) Commission expenses, net (1,743) (2,157) (2) 8,489 Investment income from the insurance business 6,656 8,134 4 Net income from the insurance business 6,166 4,166 5,060 22 1,023 Income from the sale of financial investments 505 505 103 217 Income from investment activities 90 124 75 199 - of which from participations valued according to the equity method 78 95 109 18 - of which from other non-consolidated participations 12 29 (38) 140 Real estate income 24 33 324 1,243 Sundry ordinary income 574 703 77 (2,258) Sundry ordinary expenses (1,487) (1,255) 80 Other ordinary income/expenses, net 365 (294) 110 232 Operating income 37,231 26,644 27,870 34 18,503 Personnel expenses 13,554 13,509 37 6,645 Other operating expenses 5,227 5,229 27 Operating expenses 25,148 18,781 18,738 34 Gross operating profit 12,083 7,863 9,132 32 1,510 Depreciation and write-offs of non-current assets 981 937 61 246 Amortisation of goodwill 110 108 128 1,265 Valuation adjustments, provisions and losses from the banking business 1,540 1,540 (18) Depreciation, valuation adjustments, losses 3,021 2,631 2,585 17 Profit before extraordinary items, taxes and minority 9,062 5,232 6,547 38 interests 105 Extraordinary income 93 93 13 (1,796) Extraordinary expenses (152) (152) - (1,349) Taxes (855) (1,149) 17 Profit before minority interests 6,022 4,318 5,339 13 (237) Minority interests (68) (118) 101 Net profit 5,785 4,250 5,221 11 Consistent with the presentation of 2000 figures, interest income and expenses have each been restated by CHF 2,242 m. 1) Consistent with the presentation of 2000 figures, CHF 185 m has been reclassified from interest and dividend income from financial investments to 2) interest and discount income.
    • Credit Suisse Group Previously Change to New basis reported previously 31 Dec. 2000 31 Dec. 1999 31 Dec. 1999 reported CONSOLIDATED BALANCE SHEET in CHF m in CHF m in CHF m in % #DIV/0! Assets 2,928 Cash and other liquid assets 3,141 3,141 (7) 30,127 Money market papers 28,994 28,994 4 243,692 Due from banks 164,883 164,901 48 9,871 Receivables from the insurance business 7,152 6,457 53 145,257 Due from customers 104,931 104,931 38 92,432 Mortgages 77,763 86,553 7 198,917 Securities and precious metals trading portfolios 126,746 126,746 57 25,574 Financial investments from the banking business 18,828 18,828 36 132,632 Investments from the insurance business 117,771 117,222 13 1,829 Non-consolidated participations 1,789 1,823 0 9,913 Tangible fixed assets 9,011 6,828 45 23,299 Intangible assets 4,737 2,990 679 16,294 Accrued income and prepaid expenses 11,814 9,023 81 54,668 Other assets 51,462 44,309 23 Total assets 987,433 729,022 722,746 37 4,876 Total subordinated assets 1,792 1,792 172 771 Total due from non-consolidated participations 928 928 (17) Liabilities and shareholders' equity 23,176 Money market papers issued 22,120 22,120 5 359,441 Due to banks 198,843 198,324 81 8,807 Payables from the insurance business 6,355 6,268 41 39,233 Due to customers in savings and investment deposits 44,007 44,007 (11) 213,549 Due to customers, other 182,082 182,249 17 3,225 Medium-term notes (cash bonds) 3,884 3,885 (17) 65,524 Bonds and mortgage-backed bonds 46,669 47,905 37 28,021 Accrued expenses and deferred income 14,952 14,916 88 57,653 Other liabilities 51,227 52,577 10 13,107 Valuation adjustments and provisions 14,219 8,566 53 132,175 Technical provisions for the insurance business 113,981 107,561 23 Total liabilities 943,911 698,339 688,378 37 2,319 Reserve for general banking risks 2,131 2,131 9 6,009 Share capital 5,444 5,444 10 19,882 Capital reserve 11,700 11,696 70 4,789 Revaluation reserves from the insurance business 5,515 6,977 (31) 600 Reserve for own shares 600 600 0 1,567 Retained earnings (111) 552 184 2,571 Minority interests 1,154 1,747 47 5,785 Net profit 4,250 5,221 11 Total shareholders' equity 43,522 30,683 34,368 27 Total liabilities and shareholders' equity 987,433 729,022 722,746 37 21,801 Total subordinated liabilities 17,898 18,194 20
    • 779 Total liabilites due to non-consolidated participations 749 749 4