Credit Suisse Outlines Agenda For 2021

(RTTNews) - Credit Suisse Group AG (CS) is outlining its ambitious and achievable growth agenda for 2021 and beyond, including broad-based investment initiatives to accelerate growth in its Wealth Management-related businesses and its Investment Bank.

The company said it also expects to further expand the connectivity between its Investment Bank and the Wealth Management-related divisions.

The company commits to develop Science Based targets within the next 24 months, including commitment to align its operations and financing to net zero emissions over the coming decades.

The company reconfirmed medium-term ambition of a Return on Tangible Equity (RoTE) of 10% to 12%.

The company continues to accrue for at least 5% dividend growth per annum, including with respect to the planned 2020 dividend compared to CHF 0.2776 per share paid this year.

The company to restart share buybacks in January 2021 of up to CHF 1.5 billion, with at least CHF 1.0 billion, for the full year.

The company plans to grow overall Wealth Management-related pre-tax income to between CHF 5.0 billion and CHF 5.5 billion in 2023.