Credit Suisse Group Ag (NYSE:CS) had net revenue of CHF 3.06 billion in the fourth quarter of 2022, compared to CHF 4.582 billion in the previous quarter, and a net loss of CHF 1.39 billion.
In 4Q22, we recorded a net loss attributable to shareholders of CHF 1,393 million. As of the end of 4Q22, our CET1 ratio was 14.1%.
In 4Q22, Credit Suisse reported a net loss attributable to shareholders of CHF 1,393 million, compared to a net loss attributable to shareholders of CHF 2,085 million in 4Q21 and a net loss attributable to shareholders of CHF 4,034 million in 3Q22. In 4Q22, Credit Suisse reported a loss before taxes of CHF 1,315 million, compared to a loss before taxes of CHF 1,664 million in 4Q21 and a loss before taxes of CHF 342 million in 3Q22. Adjusted loss before taxes in 4Q22 was CHF 1,015 million compared to adjusted income before taxes of CHF 328 million in 4Q21 and an adjusted loss before taxes of CHF 92 million in 3Q22.
In 2022, Credit Suisse reported a net loss attributable to shareholders of CHF 7,293 million, which included a valuation allowance in 3Q22 of CHF 3,655 million relating to the reassessment of deferred tax assets as a result of the comprehensive strategic review announced on October 27, 2022, compared to a net loss attributable to shareholders of CHF 1,650 million in 2021. In 2022, Credit Suisse reported a loss before taxes of CHF 3,258 million, compared to a loss before taxes of CHF 600 million in 2021. The 2022 results reflected a 34% decrease in net revenues and a 5% decrease in total operating expenses. Our 2021 results included a goodwill impairment charge of CHF 1,623 million, which was recognized in the Investment Bank, as well as provision for credit losses of CHF 4,205 million, mainly driven by a net charge of CHF 4,307 million in respect of the failure by Archegos to meet its margin commitments. Adjusted loss before taxes in 2022 was CHF 1,249 million compared to adjusted income before taxes of CHF 6,599 million in 2021.