Credit Suisse CEO Tidjane Thiam Says `This Was a Tough Quarter; the Outlook -- We're Cautious'

The transcript discusses the bank's recent performance, highlighting a third consecutive quarter of over a billion in profits despite a challenging market. It emphasizes the importance of capital efficiency and a cautious outlook on wealth management. The discussion covers geopolitical uncertainties, such as US-China relations and Brexit, and their impact on large transactions. Growth opportunities are identified in regions like Brazil and Southeast Asia, while challenges like negative interest rates are noted as areas needing change for the banking sector's recovery.

What was the bank's achievement in terms of profits over the past three years?

• Increased profits by 50% each quarter

• Reduced profits due to market challenges

• Maintained stable profits without growth

• Achieved over a billion in profits for three consecutive quarters

How did the bank manage to achieve a 30% increase in trading performance?

• By focusing solely on domestic markets

• By reducing the number of trades

• By maintaining the same amount of capital

• By increasing the amount of capital used

What geopolitical issues are mentioned as impacting large transactions and capital expenditures?

• US-Russia tensions and Asian market fluctuations

• African trade agreements and South American politics

• Middle East conflicts and European Union policies

• US-China relations and Brexit

Which regions are identified as having untapped growth potential in wealth management?

• Australia and New Zealand

• North America and Europe

• Russia and Eastern Europe

• Brazil, the Middle East, and Southeast Asia

What is a concern for the banking sector that needs to change to get back on track?

• Lack of technological advancement

• Strict regulatory policies

• Negative interest rates

• High inflation rates