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2001 Quarterly Pro-Forma Information
Assets under management/client assets
                                                                                                                                                                      Change in %
                                                                                                 31.03.02
in CHF bn                                                                                                      31.12.01       30.09.01      30.06.01      31.03.01   from 31.12.01

Credit Suisse Financial Services
       Private Banking
                                                                                                  557.6
       Assets under management                                                                                  546.8          514.9         571.3         545.3             2.0
                                                                                                  138.8
           of which discretionary                                                                               131.5          116.9         126.4         114.5             5.6
                                                                                                  593.0
       Client assets                                                                                            583.3          547.5         608.9         583.9             1.7
       Corporate & Retail Banking
                                                                                                   54.4
       Assets under management                                                                                    55.9          50.5          52.4          53.1            (2.7)
                                                                                                   69.4
       Client assets                                                                                              73.3          66.6          69.6          70.2            (5.3)
       Life & Pensions
                                                                                                  115.0
       Assets under management (discretionary)                                                                  115.2          112.5         116.3         113.5            (0.2)
                                                                                                  115.0
       Client assets                                                                                            115.2          112.5         116.3         113.5            (0.2)
       Insurance
                                                                                                   29.1
       Assets under management (discretionary)                                                                    30.5          29.3          32.6          32.7            (4.6)
                                                                                                   29.1
       Client assets                                                                                              30.5          29.3          32.6          32.7            (4.6)
Credit Suisse Financial Services
                                                                                                  756.1
Assets under management                                                                                         748.4          707.2         772.6         744.6             1.0
                                                                                                  284.5
    of which discretionary                                                                                      278.9          260.4         276.9         262.4             2.0
                                                                                                  806.5
Client assets                                                                                                   802.3          755.9         827.4         800.3             0.5

Credit Suisse First Boston
     Investment Banking
                                                                                                   44.5
       Assets under management                                                                                    41.7          36.1          32.4          32.0             6.7
                                                                                                   30.7
           of which Private Equity on behalf of clients (discretionary)                                          29.3           27.1          32.4          32.0             4.8
                                                                                                  121.7
       Client assets                                                                                            121.7          125.1         125.1         146.3             0.0
       CSFB Financial Services
                                                                                                  606.4
       Assets under management                                                                                  640.5          551.8          652.3        620.3            (5.3)
                                                                                                  388.2
           of which discretionary                                                                               393.6          346.1          398.3        380.4            (1.4)
                                                                                                1'233.2
       Client assets                                                                                          1'214.2        1'053.8        1'233.3      1'137.5              1.6
Credit Suisse First Boston
                                                                                                  650.9
Assets under management                                                                                         682.2          587.9          684.7        652.3            (4.6)
                                                                                                  426.1
    of which discretionary                                                                                      428.2          376.4          430.7        412.4            (0.5)
                                                                                                1'354.9
Client assets                                                                                                 1'335.9        1'178.9        1'358.4      1'283.8              1.4

Credit Suisse Group
                                                                                                1'407.0
Assets under management                                                                                       1'430.6        1'295.1        1'457.3      1'396.9            (1.6)
                                                                                                  710.6
    of which discretionary                                                                                      707.1          636.8          707.6        674.8              0.5
                                                                                                2'161.4
Client assets                                                                                                 2'138.2        1'934.8        2'185.8      2'084.1              1.1



Net new assets
                                                                                                                                                       Change in %    Change in %
                                                                                       1Q2002
in CHF bn                                                                                         4Q2001        3Q2001        2Q2001         1Q2001    from 4Q2001   from 1Q2001

Credit Suisse Financial Services
                                                                                          9.2
     Private Banking                                                                                8.6            5.1          12.8           9.2            7.0            0.0
                                                                                        (1.4)
     Corporate & Retail Banking                                                                     0.9            1.1          (2.4)          1.7              -              -
                                                                                          3.0
     Life & Pensions                                                                                1.8            0.1            0.8          2.3          66.7            30.4
Credit Suisse Financial Services                                                        10.8       11.3            6.3          11.2          13.2          (4.4)         (18.2)

Credit Suisse First Boston
                                                                                          3.5
     Investment Banking                                       1)                                    0.5              -             -             -              -              -
                                                                                        (0.8)
     CSFB Financial Services                                  1) 2)                                 6.7            0.9           5.7          11.7              -              -
Credit Suisse First Boston                                                                2.7       7.2            0.9           5.7          11.7         (62.5)         (76.9)
Credit Suisse Group                                                                     13.5       18.5            7.2          16.9          24.9         (27.0)         (45.8)


2001 figures have been restated to reflect the realignment effective as of January 1, 2002.
1) For the Investment Banking and Private Client Services businesses, measured as the balance from accounts opened minus accounts closed.
2) Net new discretionary assets for institutional assets management.
Credit Suisse Financial Services business unit income statement
                                                                                                                                                              Change in %     Change in %
                                                                                          1Q2002        4Q2001         3Q2001        2Q2001        1Q2001    from 4Q2001      from 1Q2001
in CHF m
Operating income                                                                          3'306          3'582         3'498          4'261        4'041             (8)            (18)
                                                                                          1'443
Personnel expenses                                                                                       1'244         1'472          1'496        1'427             16                1
                                                                                            814
Other operating expenses                                                                                 1'065           820            927          874            (24)             (7)
Operating expenses                                                                        2'257          2'309         2'292          2'423        2'301             (2)             (2)
Gross operating profit                                                                    1'049          1'273         1'206          1'838        1'740            (18)            (40)
                                                                                            162
Depreciation of non-current assets                                                                         218           122            141          100            (26)              62
                                                                                              43
Amortization of Present Value of future Profits (PVFP)                                                      78            73             44           42            (45)               2
                                                                                              99
Valuation adjustments, provisions and losses                                                                48            84            123          128            106             (23)
Net operating profit before extraordinary items and taxes                                   745            929           927          1'530        1'470            (20)            (49)
                                                                                             (3)
Extraordinary income/(expenses), net                                                                         8              6                9          2              -               -
                                                                                          (120)
Taxes                                                          1)                                        (151)          (192)         (400)         (370)           (21)            (68)
Net operating profit before minority interests                                              622            786           741          1'139        1'102            (21)            (44)
Amortization of acquired intangible assets and goodwill                                     (29)           (52)          (22)           (25)         (17)           (44)              71
                                                                                               1
Tax impact                                                                                                    1             0              1            0                              -
                                                                                                                                                                       -
Net profit before minority interests                                                        594            735           719          1'115        1'085            (19)            (45)
Minority interests                                                                           (2)            22            (3)           (59)         (29)              -            (93)
                                                                                            592            757           716          1'056        1'056            (22)            (44)
Net profit


Reconciliation to net operating profit
Amortization of acquired intangible assets and goodwill                                       29            52            22             25           17            (44)              71
Tax impact                                                                                   (1)            (1)            0             (1)           0               -               -
                                                                                            620            808           738          1'080        1'073            (23)            (42)
Net operating profit


2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The business unit income statement differs from the presentation of the Group's
consolidated results in excluding amortization of Present Value of Future Profits (PVFP) from depreciation of non-current assets.
1) Excluding tax impact on amortization of acquired intangible assets and goodwill.

Credit Suisse Financial Services key information
                                                                                                                       1Q2002        4Q2001        3Q2001        2Q2001           1Q2001
                                                               1) 2)                                                  73.2%
Cost/income ratio (operating)                                                                                                        70.5%        69.0%          60.2%           59.4%
                                                               1)                                                     56.9%
Cost/income ratio (operating), banking                                                                                               65.7%        64.3%          60.7%           56.5%
                                                                                                                      19.1%
Return on average allocated capital                                                                                                  24.2%        21.6%          30.7%           28.6%
                                                               1)                                                     20.0%
Return on average allocated capital (operating)                                                                                      25.8%        22.3%          31.4%           29.0%
                                                               3)                                                     12'431
Average allocated capital in CHF m                                                                                                  12'170        13'311        14'517           15'177
                                                               1)                                                   (42.2%)
Growth in net operating profit                                                                                                     (20.2%)       (32.0%)         (5.3%)        (10.1%)
                                                                                                                       1.0%
Growth in assets under management                                                                                                     5.8%        (8.5%)          3.8%            2.0%
                                                                                                                       1.4%
    of which net new assets                                                                                                           1.6%          0.8%          1.5%            1.8%
                                                                                                                            -
    of which market movement and structural effects                                                                                   3.8%        (9.2%)          2.3%           (0.4%)
                                                                                                                      (0.4%)
    of which acquisition                                                                                                              0.4%        (0.1%)               -          0.6%
                                                                                                                       0.7%
    of which discretionary                                                                                                            2.6%        (2.1%)          1.9%               n/a

                                                                                                                      31.03.02       31.12.01     30.09.01       30.06.01        31.03.01

                                                                                                                       756.1
Assets under management in CHF bn                                                                                                     748.4        707.2          772.6           744.6


                                                                                                                                                                 31.03.02        31.12.01
                                                                                                                                                                52'053
Number of employees                                                                                                                                                              51'206


1) Excluding amortization of acquired intangible assets and goodwill.
2) Excluding amortization of Present Value of Future Profits (PVFP) from the insurance businesses within Credit Suisse Financial Services.
3) New definition based on revised capital allocation methodology.
Private Banking income statement
                                                                                                                                                                     Change in %    Change in %
                                                                                             1Q2002         4Q2001         3Q2001         2Q2001         1Q2001     from 4Q2001    from 1Q2001
in CHF m

                                                                                                440
Net interest income                                                                                           500            458            508             510            (12)           (14)
                                                                                              1'233
Net commission and service fee income                                                                       1'060          1'075          1'198           1'186             16               4
                                                                                                155
Net trading income                                                                                            153            139            169             179               1           (13)
                                                                                                  6
Other ordinary income                                                                                          22             10             11              67            (73)           (91)
Operating income                                                                              1'834         1'735          1'682          1'886           1'942               6            (6)
Personnel expenses                                                                              624           570            654            642             636               9            (2)
Other operating expenses                                                                        345           420            346            398             358            (18)            (4)
Operating expenses                                                                              969           990          1'000          1'040             994             (2)            (3)
Gross operating profit                                                                          865           745            682            846             948             16             (9)
Depreciation of non-current assets                                                               53             99             48            31              37            (46)            43
                                                                                                 14
Valuation adjustments, provisions and losses                         1)                                       (41)            14             51              51              -            (73)
                                                                                                798           687            620            764             860             16             (7)
Net operating profit before extraordinary items and taxes
                                                                                                 (2)
Extraordinary income/(expenses), net                                                                             8              2              2               0              -              -
                                                                                              (162)
Taxes                                                                                                        (116)          (121)         (189)           (216)             40            (25)
Net operating profit before minority interests                                                  634            579            501           577             644              9             (2)


Increased/(decreased) credit-related valuation adjustments                                         2
                                                                     1)                                         (6)          (10)            (5)             (4)              -              -


2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The presentation of segment results differs from the presentation of business unit results by
excluding acquisition-related costs and minority interests, and reporting these items at business unit level only.
1) Increased/decreased valuation adjustments taken at Group level resulting from the difference between the statistical and actual credit provisions.


Private Banking key information
                                                                                                                           1Q2002         4Q2001         3Q2001         2Q2001         1Q2001

Cost/income ratio (operating)                                        1)                                                   55.7%          62.8%           62.3%         56.8%          53.1%
Average allocated capital in CHF m                                   2)                                                    3'484          3'233           3'353         3'366          3'167
                                                                                                                          43.4%
Pre-tax margin (operating)                                           1)                                                                  40.1%           37.0%         40.6%          44.3%
                                                                                                                          67.2%
Fee income/operating income                                                                                                              61.1%           63.9%         63.5%          61.1%
                                                                                                                              9.2
Net new assets in CHF bn                                                                                                                     8.6             5.1          12.8            9.2
                                                                                                                              3.2
    of which European Financial Services Initiative                                                                                          0.9             0.5           0.4            0.8
                                                                                                                           2.0%
Growth in assets under management                                                                                                         6.2%           (9.9%)          4.8%           1.5%
                                                                                                                           1.7%
    of which net new assets                                                                                                               1.7%            0.9%           2.4%           1.7%
                                                                                                                           0.3%
    of which market movement and structural effects                                                                                       4.0%          (11.0%)          2.4%         (0.9%)
                                                                                                                                -
    of which acquisition                                                                                                                  0.5%            0.2%                -         0.7%

                                                                     1)                                                  46.0 bp
Net operating profit before minority interests/average AuM                                                                              43.6 bp         36.9 bp       41.3 bp        47.6 bp

                                                                                                                          31.03.02       31.12.01        30.09.01      30.06.01       31.03.01
                                                                                                                           557.6
Assets under management in CHF bn                                                                                                         546.8           514.9          571.3          545.3
                                                                                                                             23.9
    of which European Financial Services Initiative                                                                                        20.9            19.4           21.5           20.6


                                                                                                                                                                       31.03.02       31.12.01
Number of advisors European Financial Services Initiative                                                                                                                  658            677
Number of clients European Financial Services Initiative                                                                                                               45'494         41'419
Number of employees                                                                                                                                                    15'176         14'952


1) Excluding amortization of acquired intangible assets and goodwill.
2) New definition based on revised capital allocation methodology.


Private Banking balance sheet information

                                                                                                                                                                       31.03.02
in CHF m                                                                                                                                                                              31.12.01

                                                                                                                                                                     168'361
Total assets                                                                                                                                                                        170'364
                                                                                                                                                                       31'261
Due from customers                                                                                                                                                                    31'410
                                                                                                                                                                       41'808
Mortgages                                                                                                                                                                             42'008
Corporate & Retail Banking income statement
                                                                                                                                                         Change in %    Change in %
                                                                             1Q2002         4Q2001          3Q2001         2Q2001         1Q2001        from 4Q2001    from 1Q2001
in CHF m
                                                                                426
Net interest income                                                                            413            412            412            421                   3              1
                                                                                122
Net commission and service fee income                                                          108             91            132            130                 13             (6)
                                                                                 53
Net trading income                                                                              60             59             63              68               (12)           (22)
                                                                                 15
Other ordinary income                                                                            2               6              4             17                  -           (12)
                                                                                               583            568            611            636                   6            (3)
Operating income                                                                616
                                                                                223
Personnel expenses                                                                             235            257            256            252                 (5)           (12)
                                                                                132
Other operating expenses                                                                       161            121            177            161                (18)           (18)
                                                                                               396            378            433            413                (10)           (14)
Operating expenses                                                              355
                                                                                               187            190            178            223                 40             17
Gross operating profit                                                          261
                                                                                 18
Depreciation of non-current assets                                                              39             21             11              13               (54)            38
                                                                                 85
Valuation adjustments, provisions and losses                      1)                            89             70             72              77                (4)            10
Net operating profit before extraordinary items and taxes                                       59             99             95            133                168             19
                                                                                158
                                                                                 (1)
Extraordinary income/(expenses), net                                                             0               4              7              2                  -              -
                                                                               (37)
Taxes                                                             2)                           (14)           (24)           (25)           (31)               164             19
Net operating profit before minority interests                                                  45             79             77            104                167             15
                                                                                120

Increased/(decreased) credit-related valuation adjustments        1)                            16             26             33            (28)                  -              -
                                                                                 (6)


2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The presentation of segment results differs from the presentation of business
unit results by excluding acquisition-related costs and minority interests, and reporting these items at business unit level only.
1) Increased/decreased valuation adjustments taken at Group level resulting from the difference between the statistical and actual credit provisions.
2) Excluding tax impact on amortization acquired intangible assets and goodwill.


Corporate & Retail Banking key information
                                                                                                           1Q2002          4Q2001         3Q2001            2Q2001         1Q2001

                                                                                                           60.6%
Cost/income ratio (operating)                                     1)                                                      74.6%          70.2%             72.7%          67.0%
                                                                                                           12.1%
Return on average allocated capital (operating)                   1)                                                       4.6%            8.0%              7.8%         10.8%
                                                                                                            3'972
Average allocated capital in CHF m                                2)                                                       3'901          3'964             3'965          3'846
                                                                                                           25.5%
Pre-tax margin (operating)                                        1)                                                      10.1%          18.1%             16.7%          21.2%
                                                                                                           36.2%
Personnel expenses/operating income                                                                                       40.3%          45.2%             41.9%          39.6%
                                                                                                          238 bp
Net interest margin                                                                                                       228 bp         224 bp            222 bp         229 bp
                                                                                                            3.3%
Loan growth                                                                                                                0.2%          (4.2%)              2.2%           0.6%
                                                                                                             (1.4)
Net new assets in CHF bn                                                                                                      0.9            1.1              (2.4)           1.7

                                                                                                           31.03.02       31.12.01       30.09.01          30.06.01       31.03.01

                                                                                                             54.4
Assets under management in CHF bn                                                                                           55.9           50.5               52.4           53.1


                                                                                                                                                           31.03.02       31.12.01

                                                                                                                                                           67.8%
Deposit/loan ratio                                                                                                                                                        74.2%
                                                                                                                                                               226
Number of branches                                                                                                                                                            227
                                                                                                                                                            6'673
Number of employees                                                                                                                                                        6'742

1) Excluding amortization of acquired intangible assets and goodwill.
2) New definition based on revised capital allocation methodology.


Corporate & Retail Banking balance sheet information

                                                                                                                                                           31.03.02
in CHF m                                                                                                                                                                  31.12.01

Total assets                                                                                                                                                              72'372
                                                                                                                                                           70'644
Due from customers                                                                                                                                                        28'889
                                                                                                                                                           29'791
                                                                                                                                                           35'458
Mortgages                                                                                                                                                                 34'279
Due to customers in savings and investment deposits                                                                                                                       17'631
                                                                                                                                                           17'502
                                                                                                                                                           26'757
Due to customers, other                                                                                                                                                   29'218
Life & Pensions income statement
                                                                                                                                                               Change in %    Change in %
                                                                                      1Q2002
in CHF m                                                                                             4Q2001         3Q2001         2Q2001          1Q2001     from 4Q2001    from 1Q2001

Gross premiums written                                                                6'762          4'899          3'138           3'187          6'189              38               9
                                                                                          (96)
Reinsurance ceded                                                                                      (61)           (91)             (7)           (51)             57             88
Net premiums written                                                                  6'666          4'838          3'047           3'180          6'138              38               9
                                                                                          (39)
Change in provision for unearned premiums                                                                (5)              1              3           (14)               -           179
Net premiums earned                                                                   6'627          4'833          3'048           3'183          6'124              37               8
                                                                                    (3'813)
Death and other benefits incurred                                                                   (3'234)        (2'560)        (2'687)        (3'686)              18               3
                                                                                    (3'289)
Change in provision for future policyholder benefits (technical)                                    (2'059)          (766)          (982)        (2'765)              60             19
Change in provision for future policyholder benefits (separate account)                (141)
                                                                           1)                         (652)         1'319           (223)            671            (78)               -
                                                                                          135
Dividends to policyholders incurred                                                                    458           (114)          (228)          (403)            (71)               -
                                                                                       (424)
Operating expenses, net (incl. commissions paid)                                                      (452)          (463)          (581)          (372)              (6)            14
                                                                                          792
Investment income general account                                                                      663             943          1'696          1'464              19           (46)
                                                                                          141
Investment income separate account                                         1)                          652         (1'319)            223          (671)            (78)               -
                                                                                           23
Interest received on deposits and bank accounts                                                          24             25             24             13              (4)            77
                                                                                          (29)
Interest on bonuses credited to policyholders                                                          (36)           (27)            (40)           (32)           (19)             (9)
                                                                                          (50)
Other interest paid                                                                                    (91)           (35)            (62)           (37)           (45)             35
                                                                                            6
Other income/(expenses) (including foreign exchange impact)                                               2             11            (27)           (39)            200               -
Net operating profit before taxes and minority interests                                  (22)         108              62            296            267                -              -
                                                                                           37
Taxes                                                                                                  (28)              4            (66)           (63)              -              -
Net operating profit before minority interests                                             15            80             66            230            204            (81)           (93)


The segment's income statement differs from the presentation of business unit results as it reflects the way the insurance business is managed, which is in line with Life &
Pensions' peers in the insurance industry. Amortization of acquired intangible assets and goodwill are excluded from quot;Operating expensesquot; and are reported, like minority interests,
at business unit level only.
1) This represents market impact for separate account (or unit-linked) business, where the investment risk is borne by the policyholder.

Reconciliation insurance vs. CSG chart of account
                                                                                                                                                              Change in %    Change in %
in CHF m                                                                              1Q2002         4Q2001         3Q2001         2Q2001          1Q2001     from 4Q2001    from 1Q2001
                                                                                                       565             522            768            648            (27)           (36)
Operating income                                                                          415
                                                                                          211
Personnel expenses                                                                                     142             212            212            183              49             15
                                                                                          140
Other operating expenses                                                                               223             148            164            136            (37)              3
                                                                                                       365             360            376            319             (4)             10
Operating expenses                                                                        351
                                                                                                       200             162            392            329            (68)           (81)
Gross operating profit                                                                      64
Depreciation of non-current assets/Amortization of PVFP                                                 92             100             96             62             (7)             39
                                                                                            86
                                                                                                       108              62            296            267               -              -
Net operating profit before taxes and minority interests                                  (22)
                                                                                           37
Taxes                                                                                                  (28)              4            (66)           (63)              -              -
Net operating profit before minority interests                                                                                                                      (81)           (93)
                                                                                                         80             66            230            204
                                                                                           15


Life & Pensions key information
                                                                                                                    1Q2002         4Q2001          3Q2001         2Q2001         1Q2001
Expense ratio                                                              1)                                        6.4%           9.4%          15.2%          18.3%           6.1%
Growth in gross premiums written                                                                                     9.3%          16.0%          17.7%          (4.6%)         18.5%
Return on invested assets (excluding separate account)
    Current income                                                                                                   4.0%            4.1%          3.9%           4.9%           4.4%
    Realized gains/losses and other income/expenses                                                                (0.8%)          (1.6%)              -          1.9%           1.8%
    Total return on invested assets                                        2)                                        3.2%            2.5%          3.9%           6.9%           6.2%
Net new assets in CHF bn                                                   3)                                          3.0             1.8           0.1            0.8            2.3
Total sales in CHF m                                                       4)                                       7'783           6'172          4'411          4'460          7'462

                                                                                                                    31.03.02       31.12.01       30.09.01       30.06.01       31.03.01

                                                                                                                     115.0
Assets und management in CHF bn                                            5)                                                       115.2          112.5           116.3          113.5

                                                                                                                                                                 31.03.02       31.12.01

Technical provisions in CHF m                                                                                                                                  109'890        108'326
Number of employees                                                                                                                                              7'417          7'697


1) Operating expenses/net premiums earned.
2) Total investment return on invested assets includes depreciation on real estate and investment expenses as well as investment income and realized gains and losses.
3) Based on change in technical provisions for traditional business, adjusted for technical interests; net inflow of unit-linked business; and change in off-balance sheet business such as
funds.
4) Includes gross premiums written and off-balance sheet sales.
5) Based on savings-related provisions for policyholders plus off-balance sheet assets.
Life & Pensions income statement


Reconciliation insurance vs. CSG chart of account in CHF m
                                                                                                                                                                                    Net
                                                                                                                                                                             operating                    Net
                                                                                                                                                                                  profit           operating
                                                                                                                                                             Amortization
                                                                                                                                                                                 before                 profit
                                                                                                                                              Depreciation     of Present
                                                                                                                                       Gross                                 taxes and                 before
                                                                                                               Other                              of non-        Value of
                                                                                    Operating                           Operating   operating                                  minority              minority
                                                                                                Personnel   operating                             current    Future Profit
                                                                                      income                            expenses       profit                                 interests             interests
                                                                                                expenses    expenses                               assets         (PVFP)                   Taxes

1Q2002


                                                                                        415      (211)       (140)        (351)           64        (45)           (41)          (22)       37            15
Gross premiums written                                                     6'762      6'762
                                                                             (96)
Reinsurance ceded                                                                       (96)
Net premiums written                                                       6'666
                                                                             (39)
Change in provision for unearned premiums                                               (39)
Net premiums earned                                                        6'627
                                                                          (3'813)
Death and other benefits incurred                                                   (3'813)
                                                                          (3'289)
Change in provision for future policyholder benefits (technical)                    (3'289)
                                                                           (141)
Change in provision for future policyholder benefits (separate account)               (141)
                                                                             135
Dividends to policyholders incurred                                                     135
                                                                           (424)
Operating expenses, net (incl. commissions paid)                                           7     (211)       (140)                                  (39)           (41)
                                                                             792
Investment income general account                                                       793                                                           (1)
                                                                             141
Investment income separate account                                                      141
                                                                              23
Interest received on deposits and bank accounts                                          23
                                                                             (29)
Interest on bonuses credited to policyholders                                           (29)
                                                                             (50)
Other interest paid                                                                     (50)
                                                                               6
Other income/(expenses) (including foreign exchange impact)                              11                                                           (5)
Net operating profit before taxes and minority interests                     (22)
                                                                              37
Taxes                                                                                                                                                                                       37
Net operating profit before minority interests                                15


4Q2001


                                                                                        565      (142)       (223)        (365)         200         (21)           (71)           108      (28)           80
Gross premiums written                                                     4'899      4'899
                                                                             (61)
Reinsurance ceded                                                                       (61)
Net premiums written                                                       4'838
                                                                              (5)
Change in provision for unearned premiums                                                (5)
Net premiums earned                                                        4'833
                                                                          (3'234)
Death and other benefits incurred                                                   (3'234)
                                                                          (2'059)
Change in provision for future policyholder benefits (technical)                    (2'059)
                                                                           (652)
Change in provision for future policyholder benefits (separate account)               (652)
                                                                             458
Dividends to policyholders incurred                                                     458
                                                                           (452)
Operating expenses, net (incl. commissions paid)                                           1     (142)       (223)                                  (17)           (71)
                                                                             663
Investment income general account                                                       665                                                           (2)
                                                                             652
Investment income separate account                                                      652
                                                                              24
Interest received on deposits and bank accounts                                          24
                                                                             (36)
Interest on bonuses credited to policyholders                                           (36)
                                                                             (91)
Other interest paid                                                                     (91)
                                                                               2
Other income/(expenses) (including foreign exchange impact)                                4                                                          (2)
Net operating profit before taxes and minority interests                     108
                                                                             (28)
Taxes                                                                                                                                                                                      (28)
Net operating profit before minority interests                                 80


3Q2001


                                                                                        522      (212)       (148)        (360)         162         (27)           (73)             62        4           66
Gross premiums written                                                     3'138      3'138
                                                                             (91)
Reinsurance ceded                                                                       (91)
Net premiums written                                                       3'047
                                                                               1
Change in provision for unearned premiums                                                  1
Net premiums earned                                                        3'048
                                                                          (2'560)
Death and other benefits incurred                                                   (2'560)
                                                                           (766)
Change in provision for future policyholder benefits (technical)                      (766)
                                                                           1'319
Change in provision for future policyholder benefits (separate account)               1'319
                                                                           (114)
Dividends to policyholders incurred                                                   (114)
                                                                           (463)
Operating expenses, net (incl. commissions paid)                                        (12)     (212)       (148)                                  (18)           (73)
                                                                             943
Investment income general account                                                       944                                                           (1)
                                                                          (1'319)
Investment income separate account                                                  (1'319)
                                                                              25
Interest received on deposits and bank accounts                                          25
                                                                             (27)
Interest on bonuses credited to policyholders                                           (27)
                                                                             (35)
Other interest paid                                                                     (35)
                                                                              11
Other income/(expenses) (including foreign exchange impact)                              19                                                           (8)
Net operating profit before taxes and minority interests                      62
                                                                               4
Taxes                                                                                                                                                                                         4
Net operating profit before minority interests                                66
Life & Pensions income statement


Reconciliation insurance vs. CSG chart of account in CHF m
                                                                                                                                                                                    Net
                                                                                                                                                                             operating                    Net
                                                                                                                                                                                  profit           operating
                                                                                                                                                             Amortization
                                                                                                                                                                                 before                 profit
                                                                                                                                              Depreciation     of Present
                                                                                                                                       Gross                                 taxes and                 before
                                                                                                               Other                              of non-        Value of
                                                                                    Operating                           Operating   operating                                  minority              minority
                                                                                                Personnel   operating                             current    Future Profit
                                                                                      income                            expenses       profit                                 interests             interests
                                                                                                expenses    expenses                               assets         (PVFP)                   Taxes

2Q2001


                                                                                        768      (212)       (164)        (376)         392         (52)           (44)           296      (66)         230
Gross premiums written                                                     3'187      3'187
                                                                              (7)
Reinsurance ceded                                                                        (7)
Net premiums written                                                       3'180
                                                                               3
Change in provision for unearned premiums                                                  3
Net premiums earned                                                        3'183
                                                                          (2'687)
Death and other benefits incurred                                                   (2'687)
                                                                           (982)
Change in provision for future policyholder benefits (technical)                      (982)
                                                                           (223)
Change in provision for future policyholder benefits (separate account)               (223)
                                                                           (228)
Dividends to policyholders incurred                                                   (228)
                                                                           (581)
Operating expenses, net (incl. commissions paid)                                      (116)      (212)       (164)                                  (45)           (44)
                                                                           1'696
Investment income general account                                                     1'699                                                           (3)
                                                                             223
Investment income separate account                                                      223
                                                                              24
Interest received on deposits and bank accounts                                          24
                                                                             (40)
Interest on bonuses credited to policyholders                                           (40)
                                                                             (62)
Other interest paid                                                                     (62)
                                                                             (27)
Other income/(expenses) (including foreign exchange impact)                             (23)                                                          (4)
Net operating profit before taxes and minority interests                     296
                                                                             (66)
Taxes                                                                                                                                                                                      (66)
Net operating profit before minority interests                               230


1Q2001


                                                                                        648      (183)       (136)        (319)         329         (20)           (42)           267      (63)         204
Gross premiums written                                                     6'189      6'189
                                                                             (51)
Reinsurance ceded                                                                       (51)
Net premiums written                                                       6'138
                                                                             (14)
Change in provision for unearned premiums                                               (14)
Net premiums earned                                                        6'124
                                                                          (3'686)
Death and other benefits incurred                                                   (3'686)
                                                                          (2'765)
Change in provision for future policyholder benefits (technical)                    (2'765)
                                                                             671
Change in provision for future policyholder benefits (separate account)                 671
                                                                           (403)
Dividends to policyholders incurred                                                   (403)
                                                                           (372)
Operating expenses, net (incl. commissions paid)                                           5     (183)       (136)                                  (16)           (42)
                                                                           1'464
Investment income general account                                                     1'464
                                                                           (671)
Investment income separate account                                                    (671)
                                                                              13
Interest received on deposits and bank accounts                                          13
                                                                             (32)
Interest on bonuses credited to policyholders                                           (32)
                                                                             (37)
Other interest paid                                                                     (37)
                                                                             (39)
Other income/(expenses) (including foreign exchange impact)                             (35)                                                          (4)
Net operating profit before taxes and minority interests                     267
                                                                             (63)
Taxes                                                                                                                                                                                      (63)
Net operating profit before minority interests                               204
Insurance income statement
                                                                                                                                                     Change in %    Change in %
                                                                            1Q2002
in CHF m                                                                                   4Q2001         3Q2001          2Q2001         1Q2001     from 4Q2001    from 1Q2001

Gross premiums written                                                       6'668          3'685          3'614          4'339          6'774              81                (2)
                                                                             (415)
Reinsurance ceded                                                                           (209)          (317)           (445)          (601)             99            (31)
Net premiums written                                                         6'253          3'476          3'297          3'894          6'173              80                 1
Change in provision for unearned premiums and
  in provision for future policy benefits (health)                         (2'502)            319            411             (7)        (2'556)               -               (2)
Net premiums earned                                                          3'751          3'795          3'708          3'887          3'617              (1)                4
                                                                           (2'819)
Claims and annuities incurred, net                                                        (2'837)        (2'817)        (3'056)         (2'799)             (1)                1
                                                                              (67)
Dividends to policyholders incurred, net                                                      (50)           (78)           (71)          (112)             34            (40)
                                                                           (1'077)
Operating expenses, net (incl. commissions paid)                                                                                                             0               3
                                                                                          (1'081)        (1'033)        (1'172)         (1'049)
Underwriting result, net                                                     (212)          (173)          (220)           (412)          (343)             23            (38)
                                                                                87
Net investment income                                                                         503            360            825            529             (83)           (84)
                                                                                16
Interest received on deposits and bank accounts                                                (4)              9            17               7               -           129
                                                                              (19)
Interest paid                                                                                 (35)           (25)           (41)           (26)            (46)           (27)
Other income/(expenses) (including foreign exchange impact)                   (61)          (216)             22            (14)            43             (72)                -
Net operating profit before taxes and minority interests                     (189)             75            146            375            210                -                -
                                                                                42
Taxes                                                                                           7            (51)          (120)           (60)            500                 -
Net operating profit before minority interests                               (147)             82             95            255            150               -                 -

The segment's income statement differs from the presentation of business unit results as it reflects the way the insurance business is managed, which is in line with
Insurance's peers in the insurance industry. Amortization of acquired intangible assets and goodwill are excluded from quot;Operating expensesquot; and are reported, like minority
interests, at business unit level only.

Reconciliation insurance vs. CSG chart of account
                                                                                                                                                    Change from    Change from
in CHF m                                                                    1Q2002         4Q2001         3Q2001          2Q2001         1Q2001     4Q2001 in %    1Q2001 in %
                                                                                              699            726            996            815             (37)           (46)
Operating income                                                               441
                                                                               385
Personnel expenses                                                                            297            349            386            356              30               8
                                                                               197
Other operating expenses                                                                      261            205            188            219             (25)           (10)
                                                                                              558            554            574            575                4              1
Operating expenses                                                             582
                                                                                              141            172            422            240                -              -
Gross operating profit                                                       (141)
Depreciation of non-current assets/Amortization of PVFP                                        66             26             47             30
                                                                                48                                                                         (27)            60
                                                                                               75            146            375            210                -              -
Net operating profit before taxes and minority interests                     (189)
                                                                               42
Taxes                                                                                           7            (51)          (120)           (60)            500                 -
                                                                             (147)             82              95            255           150
Net operating profit before minority interests                                                                                                               -                 -


Insurance key information
                                                                                                          1Q2002          4Q2001         3Q2001         2Q2001         1Q2001
Combined ratio (excluding dividends to policyholders)                                                   103.9%          103.3%         103.9%         108.8%         106.4%
Claims ratio                                                                                              75.2%          74.8%          76.0%          78.6%          77.4%
Expense ratio                                                                                             28.7%          28.5%          27.9%          30.2%          29.0%
Return on invested assets
   Current income                                                                                          3.9%           3.9%            3.9%           5.2%            4.6%
   Realized gains/losses and other income/expenses                                                       (2.7%)           2.4%            0.8%           4.7%            1.7%
   Total return on invested assets                              1)                                         1.2%           6.3%            4.7%           9.8%            6.3%


                                                                                                          31.03.02       31.12.01       30.09.01       30.06.01       31.03.01

                                                                                                            29.1
Assets under management in CHF bn                                                                                          30.5           29.3            32.6           32.7

                                                                                                                                                                                    .
                                                                                                                                                       31.03.02       31.12.01
Technical provisions in CHF m                                                                                                                          30'603         27'738
Number of employees                                                                                                                                    22'787         21'815

1) Total investment return on invested assets includes depreciation on real estate and investment expenses as well as investment income and realized gains and losses.
Insurance income statement

Reconciliation insurance vs. CSG chart of account in CHF m
                                                                                                                                                                          Net
                                                                                                                                                                   operating                    Net
                                                                                                                                                                        profit           operating
                                                                                                                                                   Amortization
                                                                                                                                                                       before                 profit
                                                                                                                                    Depreciation     of Present
                                                                                                                           Gross                                   taxes and                 before
                                                                                                   Other                                of non-        Value of
                                                                        Operating                           Operating   operating                                    minority              minority
                                                                                    Personnel   operating                               current    Future Profit
                                                                          income                            expenses       profit                                   interests             interests
                                                                                    expenses    expenses                                 assets         (PVFP)                   Taxes

1Q2002


                                                                            441      (385)       (197)        (582)       (141)           (46)             (2)       (189)        42       (147)
Gross premiums written                                         6'668      6'668
                                                               (415)
Reinsurance ceded                                                         (415)
Net premiums written                                           6'253
Change in provision for unearned premiums and
  in provision for future policy benefits (health)            (2'502)   (2'502)
Net premiums earned                                            3'751
                                                              (2'819)
Claims and annuities incurred, net                                      (2'819)
                                                                 (67)
Dividends to policyholders incurred, net                                    (67)
Operating expenses, net (incl. commissions paid)              (1'077)     (454)      (385)       (197)                                    (39)             (2)
Underwriting result, net                                       (212)
                                                                  87
Net investment income                                                        87
                                                                  16
Interest received on deposits and bank accounts                              16
                                                                 (19)
Interest paid                                                               (19)
                                                                 (61)
Other income/(expenses) (including foreign exchange impact)                 (54)                                                           (7)
Net operating profit before taxes and minority interests       (189)
                                                                  42
Taxes                                                                                                                                                                             42
Net operating profit before minority interests                 (147)


4Q2001


                                                                            699      (297)       (261)        (558)         141           (59)             (7)            75        7           82
Gross premiums written                                         3'685      3'685
                                                               (209)
Reinsurance ceded                                                         (209)
Net premiums written                                           3'476
Change in provision for unearned premiums and
  in provision for future policy benefits (health)               319        319
Net premiums earned                                            3'795
                                                              (2'837)
Claims and annuities incurred, net                                      (2'837)
                                                                 (50)
Dividends to policyholders incurred, net                                    (50)
Operating expenses, net (including commissions paid)          (1'081)     (468)      (297)       (261)                                    (48)             (7)
Underwriting result, net                                       (173)
                                                                 503
Net investment income                                                       504                                                            (1)
                                                                  (4)
Interest received on deposits and bank accounts                              (4)
                                                                 (35)
Interest paid                                                               (35)
                                                               (216)
Other income/(expenses) (including foreign exchange impact)               (206)                                                           (10)
Net operating profit before taxes and minority interests          75
                                                                   7
Taxes                                                                                                                                                                               7
Net operating profit before minority interests                    82


3Q2001


                                                                            726      (349)       (205)        (554)         172           (26)                0         146      (51)           95
Gross premiums written                                         3'614      3'614
                                                               (317)
Reinsurance ceded                                                         (317)
Net premiums written                                           3'297
Change in provision for unearned premiums and
  in provision for future policy benefits (health)               411        411
Net premiums earned                                            3'708
                                                              (2'817)
Claims and annuities incurred, net                                      (2'817)
                                                                 (78)
Dividends to policyholders incurred, net                                    (78)
Operating expenses, net (incl. commissions paid)              (1'033)     (446)      (349)       (205)                                    (33)
Underwriting result, net                                       (220)
                                                                 360
Net investment income                                                       360
                                                                   9
Interest received on deposits and bank accounts                                9
                                                                 (25)
Interest paid                                                               (25)
                                                                  22
Other income/(expenses) (including foreign exchange impact)                  15                                                              7
Net operating profit before taxes and minority interests         146
                                                                 (51)
Taxes                                                                                                                                                                            (51)
Net operating profit before minority interests                     95
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information
credit-suisse 2001 quarterly pro-forma information

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credit-suisse 2001 quarterly pro-forma information

  • 2. Assets under management/client assets Change in % 31.03.02 in CHF bn 31.12.01 30.09.01 30.06.01 31.03.01 from 31.12.01 Credit Suisse Financial Services Private Banking 557.6 Assets under management 546.8 514.9 571.3 545.3 2.0 138.8 of which discretionary 131.5 116.9 126.4 114.5 5.6 593.0 Client assets 583.3 547.5 608.9 583.9 1.7 Corporate & Retail Banking 54.4 Assets under management 55.9 50.5 52.4 53.1 (2.7) 69.4 Client assets 73.3 66.6 69.6 70.2 (5.3) Life & Pensions 115.0 Assets under management (discretionary) 115.2 112.5 116.3 113.5 (0.2) 115.0 Client assets 115.2 112.5 116.3 113.5 (0.2) Insurance 29.1 Assets under management (discretionary) 30.5 29.3 32.6 32.7 (4.6) 29.1 Client assets 30.5 29.3 32.6 32.7 (4.6) Credit Suisse Financial Services 756.1 Assets under management 748.4 707.2 772.6 744.6 1.0 284.5 of which discretionary 278.9 260.4 276.9 262.4 2.0 806.5 Client assets 802.3 755.9 827.4 800.3 0.5 Credit Suisse First Boston Investment Banking 44.5 Assets under management 41.7 36.1 32.4 32.0 6.7 30.7 of which Private Equity on behalf of clients (discretionary) 29.3 27.1 32.4 32.0 4.8 121.7 Client assets 121.7 125.1 125.1 146.3 0.0 CSFB Financial Services 606.4 Assets under management 640.5 551.8 652.3 620.3 (5.3) 388.2 of which discretionary 393.6 346.1 398.3 380.4 (1.4) 1'233.2 Client assets 1'214.2 1'053.8 1'233.3 1'137.5 1.6 Credit Suisse First Boston 650.9 Assets under management 682.2 587.9 684.7 652.3 (4.6) 426.1 of which discretionary 428.2 376.4 430.7 412.4 (0.5) 1'354.9 Client assets 1'335.9 1'178.9 1'358.4 1'283.8 1.4 Credit Suisse Group 1'407.0 Assets under management 1'430.6 1'295.1 1'457.3 1'396.9 (1.6) 710.6 of which discretionary 707.1 636.8 707.6 674.8 0.5 2'161.4 Client assets 2'138.2 1'934.8 2'185.8 2'084.1 1.1 Net new assets Change in % Change in % 1Q2002 in CHF bn 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 Credit Suisse Financial Services 9.2 Private Banking 8.6 5.1 12.8 9.2 7.0 0.0 (1.4) Corporate & Retail Banking 0.9 1.1 (2.4) 1.7 - - 3.0 Life & Pensions 1.8 0.1 0.8 2.3 66.7 30.4 Credit Suisse Financial Services 10.8 11.3 6.3 11.2 13.2 (4.4) (18.2) Credit Suisse First Boston 3.5 Investment Banking 1) 0.5 - - - - - (0.8) CSFB Financial Services 1) 2) 6.7 0.9 5.7 11.7 - - Credit Suisse First Boston 2.7 7.2 0.9 5.7 11.7 (62.5) (76.9) Credit Suisse Group 13.5 18.5 7.2 16.9 24.9 (27.0) (45.8) 2001 figures have been restated to reflect the realignment effective as of January 1, 2002. 1) For the Investment Banking and Private Client Services businesses, measured as the balance from accounts opened minus accounts closed. 2) Net new discretionary assets for institutional assets management.
  • 3. Credit Suisse Financial Services business unit income statement Change in % Change in % 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 in CHF m Operating income 3'306 3'582 3'498 4'261 4'041 (8) (18) 1'443 Personnel expenses 1'244 1'472 1'496 1'427 16 1 814 Other operating expenses 1'065 820 927 874 (24) (7) Operating expenses 2'257 2'309 2'292 2'423 2'301 (2) (2) Gross operating profit 1'049 1'273 1'206 1'838 1'740 (18) (40) 162 Depreciation of non-current assets 218 122 141 100 (26) 62 43 Amortization of Present Value of future Profits (PVFP) 78 73 44 42 (45) 2 99 Valuation adjustments, provisions and losses 48 84 123 128 106 (23) Net operating profit before extraordinary items and taxes 745 929 927 1'530 1'470 (20) (49) (3) Extraordinary income/(expenses), net 8 6 9 2 - - (120) Taxes 1) (151) (192) (400) (370) (21) (68) Net operating profit before minority interests 622 786 741 1'139 1'102 (21) (44) Amortization of acquired intangible assets and goodwill (29) (52) (22) (25) (17) (44) 71 1 Tax impact 1 0 1 0 - - Net profit before minority interests 594 735 719 1'115 1'085 (19) (45) Minority interests (2) 22 (3) (59) (29) - (93) 592 757 716 1'056 1'056 (22) (44) Net profit Reconciliation to net operating profit Amortization of acquired intangible assets and goodwill 29 52 22 25 17 (44) 71 Tax impact (1) (1) 0 (1) 0 - - 620 808 738 1'080 1'073 (23) (42) Net operating profit 2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The business unit income statement differs from the presentation of the Group's consolidated results in excluding amortization of Present Value of Future Profits (PVFP) from depreciation of non-current assets. 1) Excluding tax impact on amortization of acquired intangible assets and goodwill. Credit Suisse Financial Services key information 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 1) 2) 73.2% Cost/income ratio (operating) 70.5% 69.0% 60.2% 59.4% 1) 56.9% Cost/income ratio (operating), banking 65.7% 64.3% 60.7% 56.5% 19.1% Return on average allocated capital 24.2% 21.6% 30.7% 28.6% 1) 20.0% Return on average allocated capital (operating) 25.8% 22.3% 31.4% 29.0% 3) 12'431 Average allocated capital in CHF m 12'170 13'311 14'517 15'177 1) (42.2%) Growth in net operating profit (20.2%) (32.0%) (5.3%) (10.1%) 1.0% Growth in assets under management 5.8% (8.5%) 3.8% 2.0% 1.4% of which net new assets 1.6% 0.8% 1.5% 1.8% - of which market movement and structural effects 3.8% (9.2%) 2.3% (0.4%) (0.4%) of which acquisition 0.4% (0.1%) - 0.6% 0.7% of which discretionary 2.6% (2.1%) 1.9% n/a 31.03.02 31.12.01 30.09.01 30.06.01 31.03.01 756.1 Assets under management in CHF bn 748.4 707.2 772.6 744.6 31.03.02 31.12.01 52'053 Number of employees 51'206 1) Excluding amortization of acquired intangible assets and goodwill. 2) Excluding amortization of Present Value of Future Profits (PVFP) from the insurance businesses within Credit Suisse Financial Services. 3) New definition based on revised capital allocation methodology.
  • 4. Private Banking income statement Change in % Change in % 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 in CHF m 440 Net interest income 500 458 508 510 (12) (14) 1'233 Net commission and service fee income 1'060 1'075 1'198 1'186 16 4 155 Net trading income 153 139 169 179 1 (13) 6 Other ordinary income 22 10 11 67 (73) (91) Operating income 1'834 1'735 1'682 1'886 1'942 6 (6) Personnel expenses 624 570 654 642 636 9 (2) Other operating expenses 345 420 346 398 358 (18) (4) Operating expenses 969 990 1'000 1'040 994 (2) (3) Gross operating profit 865 745 682 846 948 16 (9) Depreciation of non-current assets 53 99 48 31 37 (46) 43 14 Valuation adjustments, provisions and losses 1) (41) 14 51 51 - (73) 798 687 620 764 860 16 (7) Net operating profit before extraordinary items and taxes (2) Extraordinary income/(expenses), net 8 2 2 0 - - (162) Taxes (116) (121) (189) (216) 40 (25) Net operating profit before minority interests 634 579 501 577 644 9 (2) Increased/(decreased) credit-related valuation adjustments 2 1) (6) (10) (5) (4) - - 2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The presentation of segment results differs from the presentation of business unit results by excluding acquisition-related costs and minority interests, and reporting these items at business unit level only. 1) Increased/decreased valuation adjustments taken at Group level resulting from the difference between the statistical and actual credit provisions. Private Banking key information 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 Cost/income ratio (operating) 1) 55.7% 62.8% 62.3% 56.8% 53.1% Average allocated capital in CHF m 2) 3'484 3'233 3'353 3'366 3'167 43.4% Pre-tax margin (operating) 1) 40.1% 37.0% 40.6% 44.3% 67.2% Fee income/operating income 61.1% 63.9% 63.5% 61.1% 9.2 Net new assets in CHF bn 8.6 5.1 12.8 9.2 3.2 of which European Financial Services Initiative 0.9 0.5 0.4 0.8 2.0% Growth in assets under management 6.2% (9.9%) 4.8% 1.5% 1.7% of which net new assets 1.7% 0.9% 2.4% 1.7% 0.3% of which market movement and structural effects 4.0% (11.0%) 2.4% (0.9%) - of which acquisition 0.5% 0.2% - 0.7% 1) 46.0 bp Net operating profit before minority interests/average AuM 43.6 bp 36.9 bp 41.3 bp 47.6 bp 31.03.02 31.12.01 30.09.01 30.06.01 31.03.01 557.6 Assets under management in CHF bn 546.8 514.9 571.3 545.3 23.9 of which European Financial Services Initiative 20.9 19.4 21.5 20.6 31.03.02 31.12.01 Number of advisors European Financial Services Initiative 658 677 Number of clients European Financial Services Initiative 45'494 41'419 Number of employees 15'176 14'952 1) Excluding amortization of acquired intangible assets and goodwill. 2) New definition based on revised capital allocation methodology. Private Banking balance sheet information 31.03.02 in CHF m 31.12.01 168'361 Total assets 170'364 31'261 Due from customers 31'410 41'808 Mortgages 42'008
  • 5. Corporate & Retail Banking income statement Change in % Change in % 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 in CHF m 426 Net interest income 413 412 412 421 3 1 122 Net commission and service fee income 108 91 132 130 13 (6) 53 Net trading income 60 59 63 68 (12) (22) 15 Other ordinary income 2 6 4 17 - (12) 583 568 611 636 6 (3) Operating income 616 223 Personnel expenses 235 257 256 252 (5) (12) 132 Other operating expenses 161 121 177 161 (18) (18) 396 378 433 413 (10) (14) Operating expenses 355 187 190 178 223 40 17 Gross operating profit 261 18 Depreciation of non-current assets 39 21 11 13 (54) 38 85 Valuation adjustments, provisions and losses 1) 89 70 72 77 (4) 10 Net operating profit before extraordinary items and taxes 59 99 95 133 168 19 158 (1) Extraordinary income/(expenses), net 0 4 7 2 - - (37) Taxes 2) (14) (24) (25) (31) 164 19 Net operating profit before minority interests 45 79 77 104 167 15 120 Increased/(decreased) credit-related valuation adjustments 1) 16 26 33 (28) - - (6) 2001 figures have been restated to reflect the realignment effective as of January 1, 2002. The presentation of segment results differs from the presentation of business unit results by excluding acquisition-related costs and minority interests, and reporting these items at business unit level only. 1) Increased/decreased valuation adjustments taken at Group level resulting from the difference between the statistical and actual credit provisions. 2) Excluding tax impact on amortization acquired intangible assets and goodwill. Corporate & Retail Banking key information 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 60.6% Cost/income ratio (operating) 1) 74.6% 70.2% 72.7% 67.0% 12.1% Return on average allocated capital (operating) 1) 4.6% 8.0% 7.8% 10.8% 3'972 Average allocated capital in CHF m 2) 3'901 3'964 3'965 3'846 25.5% Pre-tax margin (operating) 1) 10.1% 18.1% 16.7% 21.2% 36.2% Personnel expenses/operating income 40.3% 45.2% 41.9% 39.6% 238 bp Net interest margin 228 bp 224 bp 222 bp 229 bp 3.3% Loan growth 0.2% (4.2%) 2.2% 0.6% (1.4) Net new assets in CHF bn 0.9 1.1 (2.4) 1.7 31.03.02 31.12.01 30.09.01 30.06.01 31.03.01 54.4 Assets under management in CHF bn 55.9 50.5 52.4 53.1 31.03.02 31.12.01 67.8% Deposit/loan ratio 74.2% 226 Number of branches 227 6'673 Number of employees 6'742 1) Excluding amortization of acquired intangible assets and goodwill. 2) New definition based on revised capital allocation methodology. Corporate & Retail Banking balance sheet information 31.03.02 in CHF m 31.12.01 Total assets 72'372 70'644 Due from customers 28'889 29'791 35'458 Mortgages 34'279 Due to customers in savings and investment deposits 17'631 17'502 26'757 Due to customers, other 29'218
  • 6. Life & Pensions income statement Change in % Change in % 1Q2002 in CHF m 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 Gross premiums written 6'762 4'899 3'138 3'187 6'189 38 9 (96) Reinsurance ceded (61) (91) (7) (51) 57 88 Net premiums written 6'666 4'838 3'047 3'180 6'138 38 9 (39) Change in provision for unearned premiums (5) 1 3 (14) - 179 Net premiums earned 6'627 4'833 3'048 3'183 6'124 37 8 (3'813) Death and other benefits incurred (3'234) (2'560) (2'687) (3'686) 18 3 (3'289) Change in provision for future policyholder benefits (technical) (2'059) (766) (982) (2'765) 60 19 Change in provision for future policyholder benefits (separate account) (141) 1) (652) 1'319 (223) 671 (78) - 135 Dividends to policyholders incurred 458 (114) (228) (403) (71) - (424) Operating expenses, net (incl. commissions paid) (452) (463) (581) (372) (6) 14 792 Investment income general account 663 943 1'696 1'464 19 (46) 141 Investment income separate account 1) 652 (1'319) 223 (671) (78) - 23 Interest received on deposits and bank accounts 24 25 24 13 (4) 77 (29) Interest on bonuses credited to policyholders (36) (27) (40) (32) (19) (9) (50) Other interest paid (91) (35) (62) (37) (45) 35 6 Other income/(expenses) (including foreign exchange impact) 2 11 (27) (39) 200 - Net operating profit before taxes and minority interests (22) 108 62 296 267 - - 37 Taxes (28) 4 (66) (63) - - Net operating profit before minority interests 15 80 66 230 204 (81) (93) The segment's income statement differs from the presentation of business unit results as it reflects the way the insurance business is managed, which is in line with Life & Pensions' peers in the insurance industry. Amortization of acquired intangible assets and goodwill are excluded from quot;Operating expensesquot; and are reported, like minority interests, at business unit level only. 1) This represents market impact for separate account (or unit-linked) business, where the investment risk is borne by the policyholder. Reconciliation insurance vs. CSG chart of account Change in % Change in % in CHF m 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 565 522 768 648 (27) (36) Operating income 415 211 Personnel expenses 142 212 212 183 49 15 140 Other operating expenses 223 148 164 136 (37) 3 365 360 376 319 (4) 10 Operating expenses 351 200 162 392 329 (68) (81) Gross operating profit 64 Depreciation of non-current assets/Amortization of PVFP 92 100 96 62 (7) 39 86 108 62 296 267 - - Net operating profit before taxes and minority interests (22) 37 Taxes (28) 4 (66) (63) - - Net operating profit before minority interests (81) (93) 80 66 230 204 15 Life & Pensions key information 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 Expense ratio 1) 6.4% 9.4% 15.2% 18.3% 6.1% Growth in gross premiums written 9.3% 16.0% 17.7% (4.6%) 18.5% Return on invested assets (excluding separate account) Current income 4.0% 4.1% 3.9% 4.9% 4.4% Realized gains/losses and other income/expenses (0.8%) (1.6%) - 1.9% 1.8% Total return on invested assets 2) 3.2% 2.5% 3.9% 6.9% 6.2% Net new assets in CHF bn 3) 3.0 1.8 0.1 0.8 2.3 Total sales in CHF m 4) 7'783 6'172 4'411 4'460 7'462 31.03.02 31.12.01 30.09.01 30.06.01 31.03.01 115.0 Assets und management in CHF bn 5) 115.2 112.5 116.3 113.5 31.03.02 31.12.01 Technical provisions in CHF m 109'890 108'326 Number of employees 7'417 7'697 1) Operating expenses/net premiums earned. 2) Total investment return on invested assets includes depreciation on real estate and investment expenses as well as investment income and realized gains and losses. 3) Based on change in technical provisions for traditional business, adjusted for technical interests; net inflow of unit-linked business; and change in off-balance sheet business such as funds. 4) Includes gross premiums written and off-balance sheet sales. 5) Based on savings-related provisions for policyholders plus off-balance sheet assets.
  • 7. Life & Pensions income statement Reconciliation insurance vs. CSG chart of account in CHF m Net operating Net profit operating Amortization before profit Depreciation of Present Gross taxes and before Other of non- Value of Operating Operating operating minority minority Personnel operating current Future Profit income expenses profit interests interests expenses expenses assets (PVFP) Taxes 1Q2002 415 (211) (140) (351) 64 (45) (41) (22) 37 15 Gross premiums written 6'762 6'762 (96) Reinsurance ceded (96) Net premiums written 6'666 (39) Change in provision for unearned premiums (39) Net premiums earned 6'627 (3'813) Death and other benefits incurred (3'813) (3'289) Change in provision for future policyholder benefits (technical) (3'289) (141) Change in provision for future policyholder benefits (separate account) (141) 135 Dividends to policyholders incurred 135 (424) Operating expenses, net (incl. commissions paid) 7 (211) (140) (39) (41) 792 Investment income general account 793 (1) 141 Investment income separate account 141 23 Interest received on deposits and bank accounts 23 (29) Interest on bonuses credited to policyholders (29) (50) Other interest paid (50) 6 Other income/(expenses) (including foreign exchange impact) 11 (5) Net operating profit before taxes and minority interests (22) 37 Taxes 37 Net operating profit before minority interests 15 4Q2001 565 (142) (223) (365) 200 (21) (71) 108 (28) 80 Gross premiums written 4'899 4'899 (61) Reinsurance ceded (61) Net premiums written 4'838 (5) Change in provision for unearned premiums (5) Net premiums earned 4'833 (3'234) Death and other benefits incurred (3'234) (2'059) Change in provision for future policyholder benefits (technical) (2'059) (652) Change in provision for future policyholder benefits (separate account) (652) 458 Dividends to policyholders incurred 458 (452) Operating expenses, net (incl. commissions paid) 1 (142) (223) (17) (71) 663 Investment income general account 665 (2) 652 Investment income separate account 652 24 Interest received on deposits and bank accounts 24 (36) Interest on bonuses credited to policyholders (36) (91) Other interest paid (91) 2 Other income/(expenses) (including foreign exchange impact) 4 (2) Net operating profit before taxes and minority interests 108 (28) Taxes (28) Net operating profit before minority interests 80 3Q2001 522 (212) (148) (360) 162 (27) (73) 62 4 66 Gross premiums written 3'138 3'138 (91) Reinsurance ceded (91) Net premiums written 3'047 1 Change in provision for unearned premiums 1 Net premiums earned 3'048 (2'560) Death and other benefits incurred (2'560) (766) Change in provision for future policyholder benefits (technical) (766) 1'319 Change in provision for future policyholder benefits (separate account) 1'319 (114) Dividends to policyholders incurred (114) (463) Operating expenses, net (incl. commissions paid) (12) (212) (148) (18) (73) 943 Investment income general account 944 (1) (1'319) Investment income separate account (1'319) 25 Interest received on deposits and bank accounts 25 (27) Interest on bonuses credited to policyholders (27) (35) Other interest paid (35) 11 Other income/(expenses) (including foreign exchange impact) 19 (8) Net operating profit before taxes and minority interests 62 4 Taxes 4 Net operating profit before minority interests 66
  • 8. Life & Pensions income statement Reconciliation insurance vs. CSG chart of account in CHF m Net operating Net profit operating Amortization before profit Depreciation of Present Gross taxes and before Other of non- Value of Operating Operating operating minority minority Personnel operating current Future Profit income expenses profit interests interests expenses expenses assets (PVFP) Taxes 2Q2001 768 (212) (164) (376) 392 (52) (44) 296 (66) 230 Gross premiums written 3'187 3'187 (7) Reinsurance ceded (7) Net premiums written 3'180 3 Change in provision for unearned premiums 3 Net premiums earned 3'183 (2'687) Death and other benefits incurred (2'687) (982) Change in provision for future policyholder benefits (technical) (982) (223) Change in provision for future policyholder benefits (separate account) (223) (228) Dividends to policyholders incurred (228) (581) Operating expenses, net (incl. commissions paid) (116) (212) (164) (45) (44) 1'696 Investment income general account 1'699 (3) 223 Investment income separate account 223 24 Interest received on deposits and bank accounts 24 (40) Interest on bonuses credited to policyholders (40) (62) Other interest paid (62) (27) Other income/(expenses) (including foreign exchange impact) (23) (4) Net operating profit before taxes and minority interests 296 (66) Taxes (66) Net operating profit before minority interests 230 1Q2001 648 (183) (136) (319) 329 (20) (42) 267 (63) 204 Gross premiums written 6'189 6'189 (51) Reinsurance ceded (51) Net premiums written 6'138 (14) Change in provision for unearned premiums (14) Net premiums earned 6'124 (3'686) Death and other benefits incurred (3'686) (2'765) Change in provision for future policyholder benefits (technical) (2'765) 671 Change in provision for future policyholder benefits (separate account) 671 (403) Dividends to policyholders incurred (403) (372) Operating expenses, net (incl. commissions paid) 5 (183) (136) (16) (42) 1'464 Investment income general account 1'464 (671) Investment income separate account (671) 13 Interest received on deposits and bank accounts 13 (32) Interest on bonuses credited to policyholders (32) (37) Other interest paid (37) (39) Other income/(expenses) (including foreign exchange impact) (35) (4) Net operating profit before taxes and minority interests 267 (63) Taxes (63) Net operating profit before minority interests 204
  • 9. Insurance income statement Change in % Change in % 1Q2002 in CHF m 4Q2001 3Q2001 2Q2001 1Q2001 from 4Q2001 from 1Q2001 Gross premiums written 6'668 3'685 3'614 4'339 6'774 81 (2) (415) Reinsurance ceded (209) (317) (445) (601) 99 (31) Net premiums written 6'253 3'476 3'297 3'894 6'173 80 1 Change in provision for unearned premiums and in provision for future policy benefits (health) (2'502) 319 411 (7) (2'556) - (2) Net premiums earned 3'751 3'795 3'708 3'887 3'617 (1) 4 (2'819) Claims and annuities incurred, net (2'837) (2'817) (3'056) (2'799) (1) 1 (67) Dividends to policyholders incurred, net (50) (78) (71) (112) 34 (40) (1'077) Operating expenses, net (incl. commissions paid) 0 3 (1'081) (1'033) (1'172) (1'049) Underwriting result, net (212) (173) (220) (412) (343) 23 (38) 87 Net investment income 503 360 825 529 (83) (84) 16 Interest received on deposits and bank accounts (4) 9 17 7 - 129 (19) Interest paid (35) (25) (41) (26) (46) (27) Other income/(expenses) (including foreign exchange impact) (61) (216) 22 (14) 43 (72) - Net operating profit before taxes and minority interests (189) 75 146 375 210 - - 42 Taxes 7 (51) (120) (60) 500 - Net operating profit before minority interests (147) 82 95 255 150 - - The segment's income statement differs from the presentation of business unit results as it reflects the way the insurance business is managed, which is in line with Insurance's peers in the insurance industry. Amortization of acquired intangible assets and goodwill are excluded from quot;Operating expensesquot; and are reported, like minority interests, at business unit level only. Reconciliation insurance vs. CSG chart of account Change from Change from in CHF m 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 4Q2001 in % 1Q2001 in % 699 726 996 815 (37) (46) Operating income 441 385 Personnel expenses 297 349 386 356 30 8 197 Other operating expenses 261 205 188 219 (25) (10) 558 554 574 575 4 1 Operating expenses 582 141 172 422 240 - - Gross operating profit (141) Depreciation of non-current assets/Amortization of PVFP 66 26 47 30 48 (27) 60 75 146 375 210 - - Net operating profit before taxes and minority interests (189) 42 Taxes 7 (51) (120) (60) 500 - (147) 82 95 255 150 Net operating profit before minority interests - - Insurance key information 1Q2002 4Q2001 3Q2001 2Q2001 1Q2001 Combined ratio (excluding dividends to policyholders) 103.9% 103.3% 103.9% 108.8% 106.4% Claims ratio 75.2% 74.8% 76.0% 78.6% 77.4% Expense ratio 28.7% 28.5% 27.9% 30.2% 29.0% Return on invested assets Current income 3.9% 3.9% 3.9% 5.2% 4.6% Realized gains/losses and other income/expenses (2.7%) 2.4% 0.8% 4.7% 1.7% Total return on invested assets 1) 1.2% 6.3% 4.7% 9.8% 6.3% 31.03.02 31.12.01 30.09.01 30.06.01 31.03.01 29.1 Assets under management in CHF bn 30.5 29.3 32.6 32.7 . 31.03.02 31.12.01 Technical provisions in CHF m 30'603 27'738 Number of employees 22'787 21'815 1) Total investment return on invested assets includes depreciation on real estate and investment expenses as well as investment income and realized gains and losses.
  • 10. Insurance income statement Reconciliation insurance vs. CSG chart of account in CHF m Net operating Net profit operating Amortization before profit Depreciation of Present Gross taxes and before Other of non- Value of Operating Operating operating minority minority Personnel operating current Future Profit income expenses profit interests interests expenses expenses assets (PVFP) Taxes 1Q2002 441 (385) (197) (582) (141) (46) (2) (189) 42 (147) Gross premiums written 6'668 6'668 (415) Reinsurance ceded (415) Net premiums written 6'253 Change in provision for unearned premiums and in provision for future policy benefits (health) (2'502) (2'502) Net premiums earned 3'751 (2'819) Claims and annuities incurred, net (2'819) (67) Dividends to policyholders incurred, net (67) Operating expenses, net (incl. commissions paid) (1'077) (454) (385) (197) (39) (2) Underwriting result, net (212) 87 Net investment income 87 16 Interest received on deposits and bank accounts 16 (19) Interest paid (19) (61) Other income/(expenses) (including foreign exchange impact) (54) (7) Net operating profit before taxes and minority interests (189) 42 Taxes 42 Net operating profit before minority interests (147) 4Q2001 699 (297) (261) (558) 141 (59) (7) 75 7 82 Gross premiums written 3'685 3'685 (209) Reinsurance ceded (209) Net premiums written 3'476 Change in provision for unearned premiums and in provision for future policy benefits (health) 319 319 Net premiums earned 3'795 (2'837) Claims and annuities incurred, net (2'837) (50) Dividends to policyholders incurred, net (50) Operating expenses, net (including commissions paid) (1'081) (468) (297) (261) (48) (7) Underwriting result, net (173) 503 Net investment income 504 (1) (4) Interest received on deposits and bank accounts (4) (35) Interest paid (35) (216) Other income/(expenses) (including foreign exchange impact) (206) (10) Net operating profit before taxes and minority interests 75 7 Taxes 7 Net operating profit before minority interests 82 3Q2001 726 (349) (205) (554) 172 (26) 0 146 (51) 95 Gross premiums written 3'614 3'614 (317) Reinsurance ceded (317) Net premiums written 3'297 Change in provision for unearned premiums and in provision for future policy benefits (health) 411 411 Net premiums earned 3'708 (2'817) Claims and annuities incurred, net (2'817) (78) Dividends to policyholders incurred, net (78) Operating expenses, net (incl. commissions paid) (1'033) (446) (349) (205) (33) Underwriting result, net (220) 360 Net investment income 360 9 Interest received on deposits and bank accounts 9 (25) Interest paid (25) 22 Other income/(expenses) (including foreign exchange impact) 15 7 Net operating profit before taxes and minority interests 146 (51) Taxes (51) Net operating profit before minority interests 95