1. 2000/2001
CREDIT SUISSE GROUP ANNUAL REPORT

2. PART I
2 Financial highlights 2000
4 To our shareholders
PART II
6 An overview of Credit Suisse Group
6 Organisation
8 Financial review
11 Strategic review
PART III
13 Review of business units
16 Credit Suisse Financial Services
23 Credit Suisse Private Banking
25 Credit Suisse Asset Management
27 Credit Suisse First Boston
PART IV
30 Credit Suisse Group Risk Management
PART V
50 Consolidated financial statements
PART VI
107 Parent company financial statements
118 Five-year summary of selected
financial data
120 Management
126 Main offices
127 Information for investors
This symbol is used to indicate topics on which further information is available on our web-
site. Go to www.credit-suisse.com/annualreport2000/bookmarks.html to find links to the
relevant information. The additional information indicated is openly accessible and does not
form part of the Annual Report. Some areas of the Credit Suisse Group’s websites are only
available in English.
Important note
Within the framework of the Swiss Accounting and Reporting Recommendations,
Credit Suisse Group changed its accounting policies in the year 2000 in order to
increase the transparency for its insurance business and to align with a more interna-
tionally-recognised standard. The Group’s financial statements as of 31 December
1999 have also been restated to conform with the current year’s presentation. In the
tables of this publication, 1999 results will be shown in “previously reported” as well as
in “new basis” columns. In text sections, comparisons to 1999 results are based on the
previously reported figures.

3. CREDIT SUISSE GROUP FINANCIAL HIGHLIGHTS 2000
Change
Share data 31 Dec. 2000 31 Dec.Dec. 1999
31 2000 in %
Number of shares issued 300,437,990 300,437,990
272,206,488 10
Shares ranking for dividend 300,437,990 300,437,990
272,206,488 10
Average 277,775,022 271,310,760 2
Shares ranking for dividend as of 31.3.2001/2000 300,747,196 273,842,638 10
Market capitalisation (in CHF m) 92,535 92,535
86,153 7
2000 20001999 Change
in CHF in CHFCHF
in in %
Share price
at year-end 308 308
316.5 (3)
for inclusion in Swiss tax returns 312 312 302 3
year high 388.5 388,5
316.5 23
year low 293 293 212 38
Repayment of capital 1)/dividend 8 1) 87 14
1)
Proposal of the Board of Directors to the Annual General Meeting on 1.6.2001. Previously Change to
New basis reported previously
2000 20001999 1999 reported
in CHF in CHFCHF
in in CHF in %
Earnings per share 20.83 15.66 19.24 8
Operating earnings per share 1) 25.98 16.07 19.65 32
Earnings per share – diluted 20.75 15.54 19.11 9
Operating earnings per share – diluted 1) 25.89 15.95 19.48 #D33
Book value per share 136.30 108.48 119.84 14
1)
Excl. amortisation of acquired intangible assets and goodwill, as well as excl. restructuring provision.
Share performance Market capitalisation
Swiss Market Index Credit Suisse Group as of 31 December (in CHF bn)
100
400
90
350
80
300
250 70
60
200
50
150
40
30
100
20
10
0
1998 91 92 93 94 95 96 97 98 99 00
1996 1999 2000 2001
1997
Financial calendar
Annual General Meeting 2001 Friday, 1 June 2001
Distribution of par value reduction Wednesday, 15 August 2001
First quarter results Monday, 21 May 2001
Second quarter results Wednesday, 29 August 2001
Third quarter results Tuesday, 20 November 2001
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4. Previously Change to
New basis reported previously
2000 1999 1999 reported
Consolidated income statement in CHF m in CHF m in CHF m in %
Operating income 37,231 26,644 27,870 34
Gross operating profit 12,083 7,863 9,132 32
Net operating profit 1) 7,218 4,360 5,330 35
Net profit 5,785 4,250 5,221 11
Cash flow 10,734 7,008 7,983 34
Previously Change to
New basis reported previously
2000 1999 1999 reported
Return on equity (ROE) in % in % in % in %
Credit Suisse Group: – Reported ROE 17.7 15.6 18.2 (3)
Operating ROE 1)
– 21.5 16.0 18.5 16
Banking business: – Reported ROE 18.2 22.1 22.1 (17)
Operating ROE 1)
– 23.1 22.4 22.4 3
Insurance business: – Reported ROE 16.2 1.5 11.0 47
Operating ROE 1)
– 16.6 1.6 11.1 50
– Return on invested capital (ROIC) 26.3 n/a 18.0 46
Previously Change to
New basis reported previously
31 Dec. 2000 31 Dec. 1999 31 Dec. 1999 reported
Consolidated balance sheet in CHF m in CHF m in CHF m in %
Total assets 987,433 729,022 722,746 37
Shareholders' equity 43,522 30,683 34,368 27
Minority interests in shareholders' equity 2,571 1,154 1,747 47
Previously Change to
New basis reported previously
31 Dec. 2000 31 Dec. 1999 31 Dec. 1999 reported
BIS data in CHF m in CHF m in CHF m in %
BIS risk-weighted assets 239,465 209,870 213,298 12
BIS tier 1 capital 27,111 24,833 28,261 (4)
– of which non-cumulative perpetual preferred securities 1,102 200 200 451
BIS total capital 43,565 37,414 40,843 7
BIS ratios in % in % in %
BIS tier 1 ratio
Credit Suisse 7.1 6.8 6.8
Credit Suisse First Boston 2) 13.6 9.9 9.9
Credit Suisse Group 3) 11.3 11.8 13.2
BIS total capital ratio Credit Suisse Group 18.2 17.8 19.1
31 Dec. 2000 31 Dec. 1999 Change
Assets under management in CHF bn in CHF bn in %
Advisory assets under management 797.4 631.9 26.2
Discretionary assets under management 619.6 556.2 11.4
Total assets under management 1,417.0 1,188.1 19.3
Net new assets 53.3 41.9 27.2
Change
Number of employees 31 Dec. 2000 31 Dec. 1999 in %
Switzerland 28,235 27,454 3
Outside Switzerland 52,303 36,509 43
Total employees Credit Suisse Group 80,538 63,963 26
1)
Excl. amortisation of acquired intangible assets and goodwill (2000: CHF 359 m; 1999: CHF 110 m), as well as excl. restructuring provision of CHF 1,074 m, all after tax.
2)
Ratio is based on a total tier 1 capital of CHF 17.6 bn, of which non-cumulative perpetual preferred securities are CHF 1.1 bn.
3)
Ratio is based on a total tier 1 capital of CHF 27.1 bn, of which non-cumulative perpetual preferred securities are CHF 1.1 bn.
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5. TO OUR SHAREHOLDERS
Credit Suisse Group in very good shape
Dear shareholders put in a varied performance and, after
climbing to an all-time high in August,
Credit Suisse Group had another suc- closed at end-2000 just below its clos-
cessful year. Even in the challenging ing price for the previous year. Over a
second half of 2000, the Group five-year horizon, however, the share
succeeded in sustaining its strong per- price rose by 22% per annum.
formance of the first six months, and Between 1996 – prior to its com-
net operating profit for the year rose by plete restructuring – and 2000, Credit
Lukas Mühlemann
a total of 35% to CHF 7.2 billion. Suisse Group achieved sustained
Chairman and Chief Executive Officer
Instead of a dividend, the Group’s growth and demonstrated high earn-
Board of Directors will propose a par ings strength. Revenue rose by an av-
value reduction of CHF 8 per share to erage of 22% per annum and assets
the Annual General Meeting on under management grew annually by
1 June 2001. This distribution com- 22% during this period. Operating
pares to a dividend of CHF 7 for 1999 earnings per share increased by 33%
and CHF 5 for 1998. per annum and operating return on eq-
The Group further strengthened its uity advanced from 9.8% to 21.5%.
position as one of the world’s leading We are confident that we will be able to
financial services companies through maintain strong momentum in the
the implementation of a number of future.
strategic initiatives in 2000. The year While organic growth is the key to
saw the launch of a host of new ser- realising this objective, we also aim to
vices and innovative products, under- close strategic gaps via targeted acqui-
lining the Group’s dynamism and its ef- sitions.
forts to provide professional, high- The acquisition of US investment
quality services in response to all of its bank Donaldson, Lufkin & Jenrette
clients’ financial needs. The use of new (DLJ) last autumn is the largest and
technologies, including the Internet, most challenging move by the Group
continues to be of high importance. since its 1997 merger with Winterthur.
2000 was a turbulent year on The integration of DLJ will significantly
the financial markets. Against this strengthen Credit Suisse Group’s posi-
backdrop, Credit Suisse Group stock tion in its two strategic core areas of
4

6. “The year saw the launch of a host of new services and
innovative products, underlining the Group’s dynamism and
its efforts to provide professional, high-quality services in
response to all of its clients’ financial needs.”
business, investment banking and industry. Credit Suisse Group is very
asset management. In addition, the well positioned to meet these chal-
Group made a number of smaller lenges.
acquisitions to strengthen its asset On behalf of the Board of Directors
gathering and asset management busi- of Credit Suisse Group, I wish to thank
nesses. our shareholders and our clients for the
During 2000, the Group introduced trust that they place in our institution.
Value Based Analysis (VBA), an ac- We also owe sincere thanks to our
cepted measure of value creation. VBA 80,000 employees for their commit-
subtracts the cost of capital used in the ment to client service all over the globe.
business from cash flow in order to
measure value created in a given
period. We will use VBA in both perfor-
mance measurement of our business
units and in management compensa-
tion. We have also introduced Economic Lukas Mühlemann
Risk Capital (ERC), which is a consis- Chairman and Chief Executive Officer
tent measurement of the capital need-
ed to cover all identifiable risks under April 2001
extreme conditions. ERC will form an
integral part of our capital allocation
process.
Future prospects look very attrac-
tive for financial services companies
such as Credit Suisse Group. However,
financial services providers also face
ever-greater challenges: in addition to
vying for good staff, they are confront-
ed by increasingly fierce competition
between the most powerful companies
in the fields of banking and insurance,
as well as from new rivals outside the
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