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credit-suisse Slides - Presentation to analysts and media
The document summarizes Credit Suisse's second quarter 2002 results. Key points include: - Net operating profit declined 88% from the prior year due to investment losses and impairments. Reported net profit also declined significantly. - Actions were taken to protect and strengthen the capital base at Winterthur, including reducing equity investment allocation and improving underwriting performance. - Total assets under management declined 8% from the prior quarter due to market declines partially offset by net inflows in private banking. - Operating expenses remained stable compared to the prior quarter through cost reductions, while credit costs rose in line with the deteriorating credit environment.
