UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________

Form 6-K

______________

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

February 11, 2010

Commission File Number 001-15244

CREDIT SUISSE GROUP AG

(Translation of registrant’s name into English)

Paradeplatz 8, P.O. Box 1, CH-8070 Zurich, Switzerland

(Address of principal executive office)

______________

Commission File Number 001-33434

CREDIT SUISSE AG

(Translation of registrant’s name into English)

Paradeplatz 8, P.O. Box 1, CH-8070 Zurich, Switzerland

(Address of principal executive office)

______________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-.

	CREDIT SUISSE GROUP AG
	Paradeplatz 8 P.O. Box CH-8070 Zurich Switzerland	Telephone	+41 844 33 88 44
		Fax	+41 44 333 88 77
		media.relations@credit-suisse.com

Media Release

Credit Suisse Group reports 2009 net income of CHF 6.7 billion, return on equity of 18.3%, net new assets of CHF 44.2 billion, tier 1 ratio of 16.3%

Cash dividend of CHF 2.00 per share to be proposed for 2009

4Q09 net income of CHF 0.8 billion, return on equity of 8.3%, net new assets of CHF 12.5 billion

2009

·   Strong performance overall

o   Net income of CHF 6.7 billion, a return on equity of 18.3%, net new assets of CHF 44.2 billion, tier 1 ratio of 16.3% as of year-end

o   Collaboration revenues from the integrated bank of CHF 5.2 billion

·   Strong performance in Private Banking

o   Pre-tax income of CHF 3.7 billion, net revenues of CHF 11.7 billion, net new assets of CHF 41.6 billion

o   Gross margin in the Wealth Management Clients business of 131 basis points

·   Record results in Investment Banking

o   Pre-tax income and net revenues at record levels at CHF 6.8 billion and CHF 20.5 billion respectively; pre-tax return on economic capital of 33.5%

·   Solid improvement in Asset Management

o   Pre-tax income of CHF 35 million, net revenues of CHF 1.8 billion

4Q09

·   Resilient performance overall

o   Net income of CHF 0.8 billion, a return on equity of 8.3%, net new assets of CHF 12.5 billion

o   Results include net fair value charges on Credit Suisse debt of CHF 0.3 billion (before tax) resulting from tightening credit spreads, and the additional CHF 0.5 billion (before tax) charge for the settlement with the US authorities relating to an investigation into US dollar payments and other practices involving parties that are subject to US economic sanctions. Excluding these items, after-tax net income would have been CHF 1.4 billion and the return on equity would have been 14.6%

o   Collaboration revenues from the integrated bank at a record CHF 1.6 billion

	Media Release
	February 11, 2010 Page 2/10

·   Strong performance in Private Banking

o   Pre-tax income of CHF 0.9 billion

o   Net inflows were strong across most businesses and amounted to CHF 12.0 billion excluding net client outflows of CHF 5.6 billion relating to a tax amnesty in Italy; this resulted in net new assets of CHF 6.4 billion

o   Gross margin in the Wealth Management Clients business of 130 basis points

·   Resilient performance in Investment Banking

o   Pre-tax income of CHF 1.0 billion

o   Strong results in underwriting and advisory businesses and solid results in cash equities and prime services

o   Market share maintained or increased across most products and regions

o   Fixed income and equity trading revenues impacted by weaker volumes, a marked slowdown in client activity in November and December and lower volatility

·   Improved operating performance in Asset Management vs. 3Q09 on solid net revenues

o   Pre-tax income of CHF 0.2 billion

o   Net new assets of CHF 4.1 billion

Responsible approach to compensation

·   Members of the Executive Board at December 31, 2009 received no variable cash compensation for 2009; all variable compensation they received for 2009 was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments

·   Total variable compensation for 2009 was down 21% vs. 2007; average variable compensation for 2009 was CHF 144,000, down from CHF 180,000 for 2007

·   40% of the total variable compensation awarded across Credit Suisse for 2009 was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments

·   Close to 60% of the variable compensation awarded to managing directors for 2009 was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments

·   Reversal of previously accrued performance-related compensation in Investment Banking led to a negative accrual in 4Q09; full year 2009 compensation to revenue ratio in Investment Banking was at the historically low level of 41%

Credit Suisse positioned to perform well in the new regulatory environment

·   Introduced a client-focused, capital-efficient strategy in 2008, at an early stage

·   Exited most proprietary trading businesses in 4Q08

·   Established a very strong capital base meeting Swiss regulator FINMA’s requirements for capital and leverage, which are scheduled to take effect in 2013

·   Demonstrated effective liquidity management – net provider of liquidity during the crisis

	Media Release
	February 11, 2010 Page 3/10

Zurich, February 11, 2010Credit Suisse Group reported net income attributable to shareholders of CHF 0.8 billion in 4Q09 and core net revenues of CHF 6.5 billion. The return on equity attributable to shareholders was 8.3% in 4Q09 and diluted earnings per share were CHF 0.56. As of the end of 4Q09, the tier 1 ratio was 16.3%.

Results in 4Q09 include net fair value charges on Credit Suisse debt of CHF 0.3 billion (before tax) resulting from tightening credit spreads, and the additional CHF 0.5 billion (before tax) charge for the settlement with the US authorities relating to an investigation into US dollar payments and other practices involving parties that are subject to US economic sanctions. Excluding these items, after-tax net income in 4Q09 would have been CHF 1.4 billion and the return on equity would have been 14.6%.

Brady W. Dougan, Chief Executive Officer, said: “Our environment and the way we do business have changed fundamentally over the past two years. Credit Suisse responded swiftly and responsibly to these changes with the implementation of a client-focused, capital-efficient strategy and a business model that enables us to generate less volatile earnings. As a result, we were able to achieve a strong performance in 2009, with net income of CHF 6.7 billion, a return on equity of 18.3% and net new assets of over CHF 44 billion. We also gained significant market share and maintained our industry-leading capital position. Our business was resilient in the fourth quarter despite lower client trading activity in November and December.”

He added: “We have had a strong start to the quarter with strong client activity. Our transaction pipelines and net new asset inflows are the best we have seen since the crisis. We are confident about our prospects for 2010 given the strength of our business model, our competitive position and our ability to generate capital. The Board of Directors will propose a cash dividend of CHF 2.00 per share for 2009.”

Commenting on Private Banking, he said: “In a market that is undergoing significant structural changes, our Private Banking business has outperformed. Net inflows were strong across most businesses and amounted to CHF 12.0 billion excluding net client outflows of CHF 5.6 billion relating to a tax amnesty in Italy. This resulted in net new assets of CHF 6.4 billion in Private Banking in the fourth quarter. In our Wealth Management Clients business we recorded a strong gross margin of 130 basis points in the fourth quarter. Wealth management remains a very attractive growth market. Having invested in our Private Banking business throughout the financial crisis, we now have the operating leverage to further improve our profitability when markets and the demand for comprehensive solutions recover. Furthermore, our international presence and our integrated business model put us in a very good position to grow our business and to gain further market share.”

Commenting on Investment Banking, he said: “We continue to benefit from the action we took at the end of 2008 to reposition the business in a changed financial services sector. We achieved strong results in our underwriting and advisory businesses and solid results in cash equities and prime services in the fourth quarter of 2009. We also maintained or increased our market share across most products and regions. We are pleased with our record full-year pre-tax income and net revenues.”

Commenting on Asset Management, he said: “Our strategic measures in this business have put us on the right track. We are particularly encouraged by our good net new assets, improved operating performance and solid net revenues in the fourth quarter.”

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	February 11, 2010 Page 4/10

Commenting on Credit Suisse’s home market, he said: “Our business in Switzerland continues to make a strong and stable contribution to our overall result. It accounted for CHF 11.8 billion of the CHF 41.6 billion in net new assets we generated in Private Banking in 2009. We will continue to invest in our home market as well as in our international expansion. As part of our commitment to play a responsible role in supporting an economic recovery, we have helped clients to invest in growth and to successfully manage difficult restructuring and liquidity situations. We are an important and committed lender to clients, demonstrated by the fact that we have maintained our lending in Switzerland at CHF 136.7 billion.”

Commenting on compensation, he said: “We recognize the need for institutions in our industry to change the way people are rewarded and incentivized. We have been using deferred, share-based compensation instruments for many years and in 2009 we were the first institution to announce the adoption of the guidelines for best practice that followed the G-20 summit. We implemented a new compensation structure that reaffirms Credit Suisse’s commitment to fair, balanced and performance-oriented compensation policies.”

He added: “In line with this approach, members of the Executive Board at December 31, 2009 received no variable cash compensation for 2009 and all variable compensation they received for 2009 was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments. Total variable compensation for 2009 was down 21% compared to 2007 and average variable compensation was CHF 144,000, down from CHF 180,000 for 2007. Of the total variable compensation awarded across Credit Suisse for 2009, 40% was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments. Furthermore, close to 60% of the variable compensation awarded to managing directors for 2009 was in the form of deferred awards and subject to performance criteria, which may result in future negative adjustments. In Investment Banking, our compensation to revenue ratio in the full year 2009 was at the historically low level of 41%. Overall, we have tried to strike the right balance between paying our employees competitively, doing what is right for our shareholders and responding appropriately to regulatory initiatives as well as political and public concerns. We will continue to take a responsible approach to compensation.”

He concluded: “We began at a very early stage to equip our business for the challenges of the new environment. During the last 18 months, in addition to successfully implementing a client-focused, capital-efficient strategy, we exited most of our proprietary trading businesses and took decisive action to meet regulatory requirements for capital and leverage. Thanks to our forward-looking approach, we entered this period of unprecedented industry change already in a robust position, having made considerable progress on our plans. We believe that Credit Suisse is well positioned to succeed in the face of the regulatory initiatives that are currently being discussed.”

	Media Release
	February 11, 2010 Page 5/10

Financial Highlights
in CHF million	2009	Change in %	4Q09	Change in %	Change in %
		vs. 2008		vs. 3Q09	vs. 4Q08
Net income attributable to shareholders	6,724	-	793	(66)	-
Diluted earnings per share (CHF)	5.14	-	0.56	(69)	-
Return on equity attributable to shareholders (annualized)	18.3%	-	8.3%	-	-
Tier 1 ratio (end of period)	16.3%	-	16.3%	-	-
Core results1)
Net revenues	33,617	183	6,533	(27)	-
Provision for credit losses	506	(38)	(40)	-	-
Total operating expenses	24,528	6	5,228	(16)	(18)
Income from continuing operations before taxes	8,583	-	1,345	(49)	-
1) Core Results include the results of the three segments, the Corporate Center and discontinued operations, but do not include noncontrolling interests without significant economic interest.

Segment Results

Private Banking

Private Banking, which comprises the Wealth Management Clients and Corporate & Institutional Clients businesses, reported income before taxes of CHF 857 million in 4Q09, stable compared to 3Q09, as a solid 6% increase in net revenues to CHF 3,000 million was offset by a 10% increase in total operating expenses. The rise in total operating expenses was due to higher general and administrative expenses and higher compensation and benefits. General and administrative expenses increased as a result of higher IT investment costs, mainly driven by investments in international growth platforms and in applications related to investment advisory and client solutions, as well as seasonally higher sales and marketing expenses.

The Wealth Management Clients business reported income before taxes of CHF 692 million in 4Q09, down 4% compared to 3Q09, as a 6% improvement in net revenues, which reflected higher recurring as well as transaction-based revenues, was more than offset by a 9% increase in total operating expenses. The growth in recurring revenues compared to 3Q09 reflected an increase in net interest income, driven by higher margins on stable average deposit volumes and higher recurring commissions and fees, while the growth in transaction-based revenues was mainly driven by increases in foreign exchange income from client transactions, in integrated solutions revenues and in product issuing fees. The gross margin was 130 basis points in 4Q09, up 5 basis points compared to 3Q09.

The Corporate & Institutional Clients business reported income before taxes of CHF 165 million in 4Q09, up 15% compared to 3Q09. The performance was driven by a 6% increase in net revenues, mainly due to lower fair value losses related to Clock Finance, a synthetic collateralized loan portfolio, compared to 3Q09. Net provision for credit losses was CHF 17 million in 4Q09 compared to CHF 40 million in 3Q09.

Investment Banking

Investment Banking continued to execute its client-focused, capital-efficient strategy in 4Q09 and maintained or increased its market share across most products and regions. Income before taxes was CHF 1,030 million, benefiting from strong results in the underwriting and advisory businesses as well as solid results in cash equities and prime services. Income before taxes was 41% lower than in 3Q09, reflecting a

	Media Release
	February 11, 2010 Page 6/10

significant decline in net revenues to CHF 3,038 million in 4Q09 from CHF 5,046 million in 3Q09. Net revenues were affected by lower fixed income and equity trading revenues, which were impacted by weaker volumes, a marked slowdown in client activity in November and December and lower volatility. Investment Banking’s results also reflected net fair value losses on Credit Suisse debt of CHF 243 million compared to net fair value losses of CHF 251 million in 3Q09. The pre-tax income margin was 33.9% in 4Q09 compared to 34.6% in 3Q09. The pre-tax return on economiccapital was 21.9% in 4Q09, compared to 35.1% in 3Q09.

Investment Banking maintained its focus on expense discipline and efficiency improvement. Compensation expenses were CHF 870 million in 4Q09, down 59% compared to 3Q09, reflecting the reversal of previously accrued performance-related compensation. Total other operating expenses increased 6% compared to 3Q09 (excluding litigation charges of CHF 31 million in 4Q09 and CHF 47 million in 3Q09), due to higher IT investment, travel and entertainment and events expenses.

Risk-weighted assets were USD 140 billion, up slightly from the end of 3Q09, as Investment Banking grew its client-focused businesses. Average one-day, 99% Value-at-Risk increased 21% from 3Q09 to CHF 114 million.

Despite a subdued 4Q09, income before taxes and net revenues in 2009 reached record levels at CHF 6,845 million and CHF 20,537 million respectively, and the pre-tax return on economic capital improved to 33.5%.

Asset Management

Asset Management reported income before taxes of CHF 159 million in 4Q09, benefiting from an improvement in performance, placement and asset management fees compared to 3Q09. The results included, in particular, strong performance fees from Hedging-Griffo, Credit Suisse’s asset management business in Brazil, and gains from the sale of two joint ventures. Investment-related losses were CHF 47 million in 4Q09, primarily in private equity investments.

Net revenues were CHF 637 million, down 17% or CHF 128 million compared to 3Q09. However, excluding investment-related valuation effects and the gain of CHF 207 million in 3Q09 relating to the sale of part of Credit Suisse’s traditional investment strategies business to Aberdeen Asset Management, underlying revenues increased CHF 223 million.

Total operating expenses rose 5% compared to 3Q09, as an increase in general and administrative expenses was partially offset by lower performance-related compensation. As of the end of 4Q09, the fair value of the balance sheet exposure to securities purchased from Credit Suisse’s money market funds was CHF 260 million, up CHF 8 million compared to 3Q09, and gains were CHF 47 million.

	Media Release
	February 11, 2010 Page 7/10

Segment Results
in CHF million		2009	Change in %	4Q09	Change in %	Change in %
			vs. 2008		vs. 3Q09	vs. 4Q08
Private	Net revenues	11,662	(10)	3,000	6	(4)
Banking	Provision for credit losses	180	35	26	(26)	(80)
	Total operating expenses	7,831	(12)	2,117	10	(15)
	Income before taxes	3,651	(5)	857	(1)	66
Investment	Net revenues	20,537	-	3,038	(40)	-
Banking	Provision for credit losses	326	(52)	(66)	-	-
	Total operating expenses	13,366	20	2,074	(37)	(17)
	Income before taxes	6,845	-	1,030	(41)	-
Asset	Net revenues	1'842	191	637	(17)	-
Management	Provision for credit losses	0	-	0	-	-
	Total operating expenses	1'807	(1)	478	5	59
	Income before taxes	35	-	159	(49)	-

Net New Assets

In Private Banking, net inflows were strong across most businesses and amounted to CHF 12.0 billion excluding net client outflows of CHF 5.6 billion relating to a tax amnesty in Italy that negatively impacted net new assets in Europe, Middle East and Africa and Switzerland. This resulted in net new assets of CHF 6.4 billion in Private Banking in 4Q09, of which CHF 5.4 billion were generated in the Wealth Management Clients business. The annualized quarterly growth rate in Wealth Management Clients was 2.7% in 4Q09.

Asset Management reported net new assets of CHF 4.1 billion in 4Q09, including inflows of CHF 6.6 billion in targeted investment strategies, mainly in real estate and exchange traded funds, and CHF 0.8 billion in Swiss advisory, partially offset by outflows of CHF 3.6 billion in multi-asset class solutions, which included the impact of a tax amnesty in Italy.

Credit Suisse Group’s total assets under management from continuing operations were CHF 1,229.0 billion as of the end of 4Q09, up CHF 3.7 billion or 0.3% from the end of 3Q09 and up CHF 122.9 billion or 11.1% from the end of 4Q08.

Benefits of the integrated bank

Credit Suisse generated a record CHF 1.6 billion in collaboration revenues from the integrated bank in 4Q09, up from CHF 1.1 billion in 3Q09, bringing the total in 2009 to CHF 5.2 billion.

Capital position

Credit Suisse’s capital position remains very strong. The tier 1 ratio was 16.3% as of the end of 4Q09, compared to 16.4% as of the end of 3Q09 and 13.3% as of the end of 4Q08.

Dividend proposal

The Board of Directors will propose a cash dividend of CHF 2.00 per share for 2009 to the Annual General Meeting on April 30, 2010, compared to a cash dividend of CHF 0.10 per share for 2008.

Long-term initiatives

As one of Switzerland’s largest employers and providers of training, Credit Suisse has a duty to enhance the country’s position as a center of expertise and to promote entrepreneurship and is taking long-term

	Media Release
	February 11, 2010 Page 8/10

initiatives with this in mind:

·   Credit Suisse plans to create a further 150 apprenticeships in Switzerland and invest CHF 30 million over the next five years in training programs run by non-profit organizations that help young people to find an apprenticeship and enter the job market.

·   In conjunction with the Swiss Venture Club, Credit Suisse will provide up to CHF 100 million of risk capital to small and medium-sized enterprises and young entrepreneurs, primarily to promote the creation of jobs in Switzerland.

·   As part of a program launched by the Swiss IT and communication technology umbrella association, Credit Suisse plans to invest up to CHF 10 million in promoting professional education in the IT sector. The program aims to create over 1,000 new IT apprenticeships in Switzerland by 2015.

Information

Media Relations Credit Suisse AG, telephone +41 844 33 88 44, media.relations@credit-suisse.com

Investor Relations Credit Suisse AG, telephone +41 44 333 71 49, investor.relations@credit-suisse.com

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,600 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Cautionary statement regarding forward-looking information and non-GAAP information

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:

–   our plans, objectives or goals;

–   our future economic performance or prospects;

–   the potential effect on our future performance of certain contingencies; and

–   assumptions underlying any such statements.

Words such as “believes,” “anticipates,” “expects,” “intends” and “plans” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable securities laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include:

–   the ability to maintain sufficient liquidity and access capital markets;

–   market and interest rate fluctuations;

–   the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of a continued US or global economic downturn in 2010 and beyond;

–   the direct and indirect impacts of continuing deterioration of subprime and other real estate markets;

–   further adverse rating actions by credit rating agencies in respect of structured credit products or other credit-related exposures or of monoline insurers;

–   the ability of counterparties to meet their obligations to us;

–   the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations;

–   political and social developments, including war, civil unrest or terrorist activity;

–   the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;

–   operational factors such as systems failure, human error, or the failure to implement procedures properly;

–   actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations;

–   the effects of changes in laws, regulations or accounting policies or practices;

–   competition in geographic and business areas in which we conduct our operations;

–   the ability to retain and recruit qualified personnel;

–   the ability to maintain our reputation and promote our brand;

–   the ability to increase market share and control expenses;

	Media Release
	February 11, 2010 Page 9/10

–   technological changes;

–   the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;

–   acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets;

–   the adverse resolution of litigation and other contingencies;

–   the ability to achieve our cost efficiency goals and other cost targets; and

–   our success at managing the risks involved in the foregoing.

We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Form 20-F Item 3 – Key Information – Risk Factors.

This press release contains non-GAAP financial information. Information needed to reconcile such non-GAAP financial information to the most directly comparable measures under GAAP can be found in the Credit Suisse Financial Report 4Q09.

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	February 11, 2010 Page 10/10

Presentation of 4Q09 and 2009 results

Media conference

§   Thursday, February 11, 2010

09:00 Zurich / 08:00 London

Credit Suisse Forum St. Peter, Auditorium, St. Peterstrasse 19, Zurich

§   Speakers

Brady W. Dougan, Chief Executive Officer of Credit Suisse

Renato Fassbind, Chief Financial Officer of Credit Suisse

The presentations will be held in English.

Simultaneous interpreting (English/German)

§   Internet

Live broadcast at: www.credit-suisse.com/results

Video playback available approximately three hours after the event

§   Telephone

Live audio dial-in on +41 44 580 40 01 (Switzerland), +44 1452 565 510 (Europe) and

+1 866 389 9771 (US); ask for "Credit Suisse Group quarterly results".

Please dial in 10-15 minutes before the start of the presentation.

Telephone replay available approximately one hour after the event on +41 41 580 00 07

(Switzerland), +44 1452 55 0000 (Europe) and +1 866 247 4222 (US); conference ID English -

52658601#, conference ID German - 52171616#.

§   Analyst and investor conference

§   Thursday, February 11, 2010

10:30 Zurich / 09:30 London

Credit Suisse Forum St. Peter, Auditorium, St. Peterstrasse 19, Zurich

§   Speakers

Brady W. Dougan, Chief Executive Officer of Credit Suisse

Renato Fassbind, Chief Financial Officer of Credit Suisse

The presentations will be held in English.

Simultaneous interpreting (English/German)

§   Internet

Live broadcast at: www.credit-suisse.com/results

Video playback available approximately three hours after the event

§   Telephone

Live audio dial-in on +41 44 580 40 01 (Switzerland), +44 1452 565 510 (Europe) and

+1 866 389 9771 (US); ask for "Credit Suisse Group quarterly results".

Please dial in 10-15 minutes before the start of the presentation.

Telephone replay available approximately one hour after the event on +41 41 580 00 07

(Switzerland), +44 1452 55 0000 (Europe) and +1 866 247 4222 (US); conference ID English -

52660864#, conference ID German - 52662206#.

Fourth Quarter and
Full-Year Results 2009

Zurich - - Presentation to Investors and Analysts

February 11, 2010

Cautionary statement regarding forward-looking and non-GAAP information

This presentation contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent
risks and uncertainties, and we might not be able to achieve the predictions, forecasts,
projections and other outcomes we describe or imply in forward-looking statements.

A number of important factors could cause results to differ materially from the plans,
objectives, expectations, estimates and intentions we express in these forward-looking
statements, including those we identify in "Risk Factors" in our Annual Report on Form
20-F for the fiscal year ended December 31, 2008 filed with the US Securities and
Exchange Commission, and in other public filings and press releases. We do not intend
to update these forward-looking statements except as may be required by applicable
laws.

This presentation contains non-GAAP financial information. Information needed to
reconcile such non-GAAP financial information to the most directly comparable
measures under GAAP can be found in Credit Suisse Group's fourth quarter report 2009
and in the appendix to this presentation.

Fourth Quarter and Full-Year Results 2009

Slide 1

Cautionary statement

Fourth quarter and full-year 2009 results detail

Renato Fassbind, Chief Financial Officer

Introduction

Brady W. Dougan, Chief Executive Officer

Summary

Brady W. Dougan, Chief Executive Officer

Fourth Quarter and Full-Year Results 2009

Slide 2

Challenges
addressed
early and
decisively

Strong
results
in 2009

Distinctive
strategy
delivering
results

§Industry-leading return on equity and capital position

§Client and employee momentum

§Best-in-class dividend of CHF 2 per share

§Private Banking with positive net new assets throughout crisis

§Investment Banking achieves record results

§Asset Management now solidly repositioned

§Risk and balance sheet reductions; industry-leading tier 1 ratio; leverage ratio
complies with 2013 Swiss minimum requirement

§First bank to comply with G-20 principles regarding compensation

§Anticipated early the evolving landscape in cross border banking

§Strong start to 1Q10 with strong client activity;
Transaction pipelines and net new asset inflows are the best since the crisis

§Potential to thrive in different market environments

§Responsible corporate citizen

Fourth Quarter and Full-Year Results 2009

Slide 3

Credit Suisse strongly positioned with distinctive strategy

Increased capital
and funding costs
as aprice for
cautious funding
and high liquidity

Tangible actions
we took to
strengthen our
position

§No net funding from central banks - we were supplying on average CHF 32
bn, at peak over CHF 70 bn, in cash to the central banks

§No need to participate in emergency or standing collateralized funding
facilities provided by Central Banks

§No equity injection, guarantees of liabilities or purchase of
illiquid assets by government needed

Well positioned
during the crisis
and net provider of
liquidity to the
market

Direct impact for
Credit Suisse

Fourth Quarter and Full-Year Results 2009

Slide 4

Facing competitive
distortion as
primarily weaker
competitors were
supported with
equity injections,
funding guarantees
and toxic asset
purchases

§Reduced balance sheet by 24% since 4Q07; RWA down 32%

§Continued raising funding in the secured and unsecured markets without the
support of government guarantees

§Extending/lengthening of the funding profile - increased long-term debt
weighted average duration

§Pre-emptively raised privately CHF 10 bnof regulatory capital in 3Q08 -
no government investment needed

§Tier 1 ratio increased by 300 basis points during 2009 through retained
earnings and risk reductions

§Protected shareholder from dilution - fewer shares issued today than at
start of 2006

§Anticipated current regulatory and market environment;aggressively
adapted our business model to fit that environment

The Governments' and Central Banks' actions were decisive and instrumental
to stabilize the system - Credit Suisse contributed as a net provider of liquidity

Challenges
addressed
early and
decisively

Strong
results
in 2009

Distinctive
strategy
delivering
results

§Industry-leading return on equity and capital position

§Client and employee momentum

§Best-in-class dividend of CHF 2 per share

§Private Banking with positive net new assets throughout crisis

§Investment Banking achieves record results

§Asset Management now solidly repositioned

§Risk and balance sheet reductions; industry-leading tier 1 ratio; leverage ratio
complies with 2013 Swiss minimum requirement

§First bank to comply with G-20 principles regarding compensation

§Anticipated early the evolving landscape in cross border banking

§Strong start to 1Q10 with strong client activity;
Transaction pipelines and net new asset inflows are the best since the crisis

§Potential to thrive in different market environments

§Responsible corporate citizen

Fourth Quarter and Full-Year Results 2009

Slide 5

Credit Suisse strongly positioned with distinctive strategy

Fourth quarter and full-year 2009 results detail

Renato Fassbind, Chief Financial Officer

Introduction

Brady W. Dougan, Chief Executive Officer

Summary

Brady W. Dougan, Chief Executive Officer

Fourth Quarter and Full-Year Results 2009

Slide 6

20094Q093Q092Q091Q09

Core results in CHF bn

Net revenues

Provision for credit losses

Total operating expenses

Pre-tax income

Net income 1)

Return on equity

Earnings per share in CHF 2)

A reconciliation from reported results to underlying results can be found in the appendix to this presentation

Numbers may not add to total due to rounding

Net revenues

Pre-tax income

Net income

Return on equity

Underlying results

Fourth Quarter and Full-Year Results 2009

Slide 7

33.66.58.98.69.6

0.5(0.0)0.10.30.2

24.55.26.26.76.3

8.61.32.61.63.1

6.70.82.41.62.0

18%8%25%18%23%

5.140.561.811.181.59

34.46.89.09.88.9

10.62.13.03.12.4

7.71.42.32.51.5

21%15%24%27%17%

1) Attributable to shareholders

2) Diluted and attributable to shareholders

Results overview

(U)HNWI = (Ultra) high net worth individuals

Fourth Quarter and Full-Year Results 2009

Slide 8

Private Banking with strong 2009 results despite challenges in
the market environment and an evolving industry landscape

§Stable platform and strong client franchise

–Net new assets of CHF 42 bn

–Demonstrated the value of our industry-leading multi-shore business model
with solid and consistently positive net asset flows across all regions

–Client satisfaction on high level and further enhanced value proposition during
crisis

–Increasing market share in (U)HNWI client segment

§Continued talent upgrades with focus on senior relationship managers

§Continued investment in our platform provides significant upside potential from
operating leverage as markets normalize

§Opening 2010 assets under management up 16% from 2009;
expected market shares gains to continue

2,509

723

117

692

2,898

Pre-tax income

CHF m

§Sound revenues with rebound in gross
margin to 130 bp from 3Q09

§Reduction in pre-tax income due to
investments in client services, IT and
higher personnel expenses

§Continued strong client inflows in 4Q09,
partially offset by outflows related to "Scudo"

§Assets under management up CHF 10 bn
to CHF 803 bn in 4Q09; up 16% in 2009

§Number of relationship managersincreased
by 50 to 4,080 in 4Q09

2008

2009

4Q08

Pre-tax income margin in %

23.529.44.629.826.9

3Q09

4Q09

1) Including net provisions related to ARS of CHF 310 m in 3Q08 and CHF 456 m in 4Q08
and a charge of CHF 190 m related to an account close-out in 4Q08

2) Including proceeds from captive insurance settlements of CHF 100 m in 1Q09

1)

2)

1)

Fourth Quarter and Full-Year Results 2009

Slide 9

Wealth Management geared towards growth with continued
strong inflows and stable gross margin

Net new assets in 2009

CHF bn

1Q09

2Q09

9.6

Rolling four-quarter NNA growth on AuM in %

4.83.83.85.15.1

3Q09

4Q09

9.1

11.2

35.3

10.3

11.5

8.0

EMEA

Asia
Pacific

Americas

Switzerland

2009

5.4

5.5

§Strong underlying inflows of CHF 11 bn

§Negatively affected by net client outflows of
CHF 5.6 bn due to "Scudo"

–Successfully retained 2/3 of repatriated
funds

§Solid net asset inflows of CHF 5.4 bn

§Evidence that the business is building
momentum

§Testimony of our outperformance in a still
challenging, yet improving, environment

(5.6)

11.0

Impact from tax
amnesty in Italy (Scudo)

Underlying inflows

Fourth Quarter and Full-Year Results 2009

Slide 10

Continued strong inflows in Wealth Management reflecting
the strength of our franchise

100

99

97

92

95

97

33

26

38

33

36

34

101

96

103

101

103

30

32

34

31

31

Gross margin on assets under management

Basis points

Recurring
margin

Trans-
action
based
margin

Management fees

Integrated solutions

Key net revenue changes
2009 vs. 2008

Product issuing fees

1Q

2Q

3Q

4Q

2008

134

135

125

130

133

132

125

135

Brokerage fees

Interest income

1Q

2Q

3Q

4Q

2009

2009

2008

131

131

2007

131

Fourth Quarter and Full-Year Results 2009

Slide 11

Stable gross margin in Wealth Management

1,341

753

400

165

144

Pre-tax income

CHF m

2008

2009

4Q08

Provision for credit losses in CHF m

8(147)(15)(40)(17)

3Q09

4Q09

Pre-tax income margin in %

60.742.064.535.638.6

Fair value change on loan hedges in CHF m

110(118)57(61)(30)

§Net new assets of CHF 1.0 bn

§Stable revenues vs. 3Q09 excluding fair value
changes on loan hedges

§Low credit provisions of CHF 17 m reflecting the
strong performance of our credit portfolio despite
the challenging economic conditions

§Strong pre-tax income margin both in 4Q09 with
38.6% and in 2009 with 42.0%

§Reduction in pre-tax income to solid CHF 753 m
for 2009 driven by

−Value changes on loan hedges

−Increase in credit provisions

−Lower margin on loans reflecting increased
refinancing costs

(228)

(155)

Fourth Quarter and Full-Year Results 2009

Slide 12

Corporate & Institutional Clients review

Note: All data before impact of movements in spreads on own debt

Fourth Quarter and Full-Year Results 2009

Slide 13

Client-focused, capital efficient model produces
record results for Investment Banking in 2009

§Record full-year revenues and pre-tax income achieved from client-focused, capital
efficient model with significantly reduced risk and capital usage

§High quality of earnings and strong market share momentum; superior return on
capital and pre-tax margin

§Industry-wide slowdown in client trading activity in 4Q09, but still achieved 27%
pre-tax return on capital in 4Q09 and 35% for 2009

§Excluding litigation costs, 2009 non-compensation expenses declined 9% from
2008 and 11% from 2007

§Historic low full-year 2009 compensation/revenue ratio of 41%;
negative accrual for performance-related compensation in 4Q09

Net revenues

Pre-tax income

Pre-tax income margin

Pre-tax return on economic capital

Risk weighted assets (USD bn)

Average 1-day VaR (USD m)

Investment Banking (CHF m)

Note: Excluding impact from movements in spreads on own debt of CHF (243) m, CHF (251) m, CHF (269) m, CHF 365 m, CHF (397) m in 4Q09, 3Q09, 2Q09, 1Q09 and 2009, respectively

Numbers may not add to total due to rounding

Fourth Quarter and Full-Year Results 2009

Slide14

20.93.35.36.36.1

7.21.32.01.92.0

35%39%38%31%34%

35%27%40%37%38%

140140137139154

10811189112121

20094Q093Q092Q091Q09

Record 2009 revenue, pre-tax income and return on capital
achieved with significantly less risk and capital usage

2009 Investment Banking revenues (in CHF bn)

Key client
businesses

Repositioned
businesses

Exit
businesses

2009

§Accelerated implementation of our client-
focused, capital efficient strategy in late
2008

§Successful execution in 2009

−Strong results in key client businesses

−Repositioned businesses trans-formed
into client-based franchises with lower
capital usage

−Exit of businesses that were significant
contributors in the past, but no longer fit
our strategic criteria

§Significant momentum going into 2010

20.9

18.2

5.4

(2.7)

Ongoing

Note: Excluding impact from movements in spreads on own debt

Fourth Quarter and Full-Year Results 2009

Slide 15

Successful strategy implementation

Market rebound revenues:
estimated rebound revenues resulting from normalized market conditions, including the reduction in market
volatility and the stabilization of the convertible bond market compared to 4Q08

=

CHF bn

0.2

1.1

2.4

2.5

1.6

1.6

0.1

8.7

7.5

1) Excludes impact from movements in spreads on own debt.

2) Exit losses for 2009 were CHF 110 million.

Securities view: Equity sales & trading and underwriting revenues1)2)

2009

1Q09

2Q09

3Q09

4Q09

2009

Repositioned businesses

Key client businesses

2.2

7.5

1.2

Equity
sales &
trading

Equity
underwriting

8.7

2009

§Sustained market share growth delivers
significant increase in revenues

§Strong results in cash equities, prime
services and flow and corporate derivatives

§Minimal exit losses2) as a result of
substantial risk reduction early in the year in
illiquid trading activities

4Q09

§Revenues impacted by a industry-wide
decline in client activity

Fourth Quarter and Full-Year Results 2009

Slide 16

Strong 2009 equity revenues demonstrate sustained market
share gains

=

CHF bn

12.0

1.1

9.6

3.7

(2.4)

3.9

3.6

3.0

1.4

0.5

Repositioned businesses

Key client businesses

Exit businesses

0.9

Market rebound revenues:
estimated rebound revenues resulting from normalized market conditions, including the narrowing of credit
spreads and the reduction in the differential between cash and synthetic instruments compared to 4Q08

1Q09

2Q09

3Q09

4Q09

2009

1) Excludes impact from movements in spreads on own debt.

10.9

1.1

Fixed
income
sales &
trading

Debt
underwriting

2009

12.0

2009

§Strong results in key client businesses,
including global rates and FX, US RMBS
and investment grade credit

§Improved results from repositioned
businesses, driven by US leveraged
finance, emerging markets and corporate
lending

§Significantly reduced exit losses reflecting
aggressive risk reduction

4Q09

§Revenues impacted by weaker market
volumes, a decline in client activity and
lower volatility across the industry

Securities view: Fixed income sales & trading and underwriting revenues1)

Fourth Quarter and Full-Year Results 2009

Slide 17

Refocused fixed income business delivers high quality revenues
with substantially lower risk and efficient capital usage

2009 and 4Q09

§Advisory and underwriting revenues benefited
from significant improvement in both industry
activity and our market share

§Market share gains across most products and
regions, resulting in #2 share of wallet in 2009
for EMEA and APAC1)

Outlook

§Strong pipeline

§Improving market for global M&A

§ECM activity expected to benefit from an
increase in IPOs

§Strong leveraged finance pipeline; sizeable
high yield refinancing opportunity

Investment Banking Department view: Advisory and underwriting

CHF bn

0.1

0.2

0.2

0.4

1Q09

2Q09

3Q09

4Q09

2009

0.3

0.2

0.2

0.7

0.8

0.1

0.3

0.4

1.2

0.3

0.4

0.5

3.1

0.8

1.1

1.2

1) Source: Dealogic

Note:Underwriting revenues are also included in the
Securities view on slides 16 and 17

Debt underwriting

Advisory

Equity underwriting

Fourth Quarter and Full-Year Results 2009

Slide18

Significant improvement in both advisory and underwriting
revenues

Investment Banking RWAs (period end in USD bn)

4Q08

1Q09

2Q09

140

3Q09

89

Investment Banking average 1-Day VaR(USD m)

4Q08

1Q09

2Q09

3Q09

§Average Value-at-Risk (VaR) decreased 21% vs.
4Q08 but increased relative to 3Q09

§Revenues stable; no backtesting exceptions in
2009

§The increase in VaR from 3Q09 primarily reflects the
impact of a methodology change and increased
VaR usage,reflecting client activity across our
fixed income and equity businesses

163

4Q09

139

4Q09

§Risk-weighted assets (RWA) in ongoing businesses
grew to USD 123 bn as we continue to grow these
businesses

§RWA in exit businesses down slightly

§Priority remains to release remaining capital from
exit portfolio for reinvestment into our targeted
client businesses

Exit
businesses

137

26

113

18

119

111

140

17

123

102

Methodology adjustment

154

112

121

Fourth Quarter and Full-Year Results 2009

Slide 19

Continued reallocation of capital to ongoing businesses

Securities

Source: Thomson Financial, Tradeweb, Euromoney magazine, Greenwich Associates and Credit Suisse estimates

1) Represents leveraged loans secondary trading.

Underwriting and advisory

IPO Americas

#6/7%

#5/8%

#9/7%

#9/3%

2006

Current

2007

US cash
equities

#6/6%

#2/12%

#4/12%

#5/12%

#1/3%

#1/8%

#1/8%

#1/8%

Prime
services

Top 7/

~6%

Top 3/

>10%

Top 6/

~6%

Top 3/

>10%

Foreign
exchange

#17/1%

NA

#14/2%

#9/3%

RMBS pass
-throughs

#2/14%

#1/19%

#1/18%

#1/18%

Leveraged
loans 1)

#2/14%

#2/19%

#4/13%

#2/16%

2008

Global
announced

#6/19%

#5/16%

#6/20%

#7/17%

US rates

#10/5%

#6/9%

#10/5%

#8/6%

#10/17%

#2/33%

#8/23%

#6/22%

APAC (ex Japan)
announced

#11/4%

#2/7%

#6/6%

#5/9%

#13/3%

#10/4%

#13/3%

#12/4%

#3/12%

#4/9%

#2/11%

#3/11%

ECM global

#7/6%

#7/6%

#7/6%

#7/5%

#4/7%

#5/6%

#3/8%

#8/5%

Trend

2006

2009

2007

2008

Trend

(Rank/market share)

(Rank/market share)

Fourth Quarter and Full-Year Results 2009

Slide 20

Equi-
ties

FixedIncome

M&A

DCM

ECM

US electronic
trading

Europe
announced

Investment
grade global

High yield
global

IPO global

Strong market share growth but upside potential remains

2009 relative revenue contribution by business

2009 market environment

Credit
Suisse
market
share

Strong

Worse than
historic levels

Better than
historic levels

Upside
potential

Revenue growth potential from increasing market share

Revenue growth potential from improving environment

Risk of revenue reduction from normalizing environment

§Market trends developed as
forecasted in mid-2009

−Some bid/offer spread
normalization, especially in
commoditized products

−Market share gains in key areas,
but substantial opportunity remains

§Our resources continue to be aligned
with environment and market
opportunities

§Specific growth initiatives aimed at
growing client flows and broadening
our client footprint

Sustainable performance expected

Fourth Quarter and Full-Year Results 2009

Slide 21

Cash

equities

RMBS trading

Rates

Equity capital

Equity

derivatives

M&A

FX

Commodities

Leveraged

finance

grade

markets

Prime
Services

Emerging

markets

Investment

Growth initiatives aimed at extending market share gains
and offsetting any impact of spread normalization

Fourth Quarter and Full-Year Results 2009

Slide 22

Decisive implementation of Asset Management's new
business model is delivering encouraging initial results

§Took tangible steps to implement new business model in 2009

–Successfully closed transaction with Aberdeen Asset Management

–Exited non-core joint ventures in Poland and Korea

§Strengthened sales team by hiring over 20 senior professionals

§Asset inflows gaining momentum;
CHF 8.0 bn in 2H09 vs. CHF (7.6) in 1H09

§Improvement in operating performance in 2009

§Continued emphasis on driving platform efficiencies;
general and administrative expenses reducedby 8% in 2009

§Consistently improvingoperating
performance and stronger net
revenues

§Gross margin improved to
43 basis points in 2009

§Business positioned well to benefit
from normalizing market
environment

Pre-tax income 1)

CHF m

2008

2009

4Q08

3Q09

4Q09

Total gains/(losses) 2)

(1,343)(256)(759)1390

1) Including gain on sale of business of CHF 21 m, CHF 207 m,
CHF 58 m and CHF 286 m in 2Q09, 3Q09, 4Q09 and 2009 respectively

2) On securities purchased from our money market funds and investment-related gains/(losses)

3) Before total gains/(losses) and gains on sale of business

Gross margin 3)

3843354054

(1,185)

(656)

311

159

35

CHF 207 m gain on
sale of business

Fourth Quarter and Full-Year Results 2009

Slide 23

Asset Management returned to profitability for the year

(2)

44

125

110

119

121

191

200

196

199

34

46

Asset management fees

CHF m

2Q09

1Q09

3Q09

4Q09

Alternative
investment
strategies

Other traditional
strategies

Multi-asset class
solutions

314

344

362

364

§Fees have consistently risen
through 2009

§Well diversified fee base; no
single strategy accounts for
more than 16%

§Alternative investments not
expected to be materially
impacted by proposed US
regulatory changes

Fourth Quarter and Full-Year Results 2009

Slide 24

Fees steadily improving and well diversified

+2.8

Assets under management end
4Q09

CHF bn

Asset
Management
Division

Multi-asset class
solutions (MACS)

Other traditional
strategies

Alternative
investment
strategies (AI)

Net new assets

+6.6

+1.0

+4.1

2009 gross margin

Before total gains/(losses) and gain on sale in
2009

(3.6)

CHF bn

416

88

170

158

43

47

28

59

+0.4

+7.6

(5.4)

4Q09

2009

4Q09 outflows
impacted by
"Scudo"

"Exit " businesses(primarily US money
markets)

0

(4.6)

+0.1

0

Fourth Quarter and Full-Year Results 2009

Slide 25

Strong inflows in targeted areas drive positive net new
assets for 2009

4Q08

1Q09

3Q09

Basel 2 risk-weighted assets (in CHF bn) and capital ratios (in %)

4Q07

§Basel 2 tier 1 ratio of 16.3%,
up 300 basis points in 2009

§Core tier 1 ratio of 11.2%1)

§Risk-weighted assets reduced by
14% in 2009 and by 32% since end
2007

§Dividend proposal of CHF 2 per
share, already fully considered in
current capital ratio

10.0

13.3

14.1

257

261

324

15.5

235

2Q09

(32)%

16.4

222

4Q09

16.3

222

1) Excluding hybrid capital of CHF 12.2 bn

PB = Private Banking; AM = Asset Management; IB = Investment Banking

IB

PB

AM

Fourth Quarter and Full-Year Results 2009

Slide 26

Industry leading capital position

1,031

1,031

Assets

4Q09

Capital & liabilities

4Q09

Reverse247

repo

Trading352

assets

Loans229

Other151

Repo229

Trading liab.133

Short-term1)52

Long-term159
debt

Capital179
& Other

122%

coverage

Asset and liabilities by category (period-end in CHF bn)

§Strong balance sheet structure maintained

§Regulatory leverage ratio increased to 4.2%

§Stable and low cost deposit base a key funding
advantage

§Complemented by a conservative and
lengthened long-term debt profile -
now at 6.4 years duration, up 31% from
4.9 years in 20062)

Cash 1)52

1) Includes due from/to banks

2) weighted average, assuming that callable securities are redeemed at final maturity, latest in 2030

Fourth Quarter and Full-Year Results 2009

Slide 27

Deposits279

Maintained strong funding structure

Fourth Quarter and Full-Year Results 2009

Slide 28

Adoption of new accounting principles on January 1, 2010

§New consolidation rules for Variable Interest Entities to be adopted in 1Q10

–Increase to the opening consolidated balance sheet by CHF 15 bn, of
which majority likely to be level 3 assets

–Reduction in opening retained earnings of approximately CHF 2 bn related
to the consolidation of Alpine

–No impact on BIS tier 1 capital or risk-weighted assets; no additional
economic risk

§Future impacts from movements in credit spreads on own debt

–The remaining cumulative CHF 1.5 billion net gains will continue to be
amortized on a straight-line basis, i.e. CHF 60 m per quarter (mostly in IB)

–Any positive/negative difference between the amortization amount and the
impact from changes in credit spreads will continue to be included in
Corporate Center

Fourth quarter and full-year 2009 results detail

Renato Fassbind, Chief Financial Officer

Introduction

Brady W. Dougan, Chief Executive Officer

Summary

Brady W. Dougan, Chief Executive Officer

Fourth Quarter and Full-Year Results 2009

Slide 29

Slide

31 to 32

33

34

35

36 to 38

39

40

41 to 42

Fourth Quarter and Full-Year Results 2009

Slide 30

Appendix

Reconciliation from underlying to reported results

Collaboration revenues

Repositioned Investment Bank

Client market share momentum in the Investment Bank

Investment Banking market and margin trends

Investment Banking expenses

Commercial mortgage exposures detail

Loan portfolio characteristics

Note: numbers may not add to total due to rounding

4Q09
reported

4Q09
under-
lying

Impact from
the tightening
of spreads on
own debt

Legal
provisions

CHF bn

Net revenues

Prov. for credit losses

Total oper. expenses

Pre-tax income

Income taxes

Income attributable to
noncontrolling interests

Net income

Return on equity

Fourth Quarter and Full-Year Results 2009

Slide 31

6.50.3- 6.8

0.0--0.0

(5.2)-0.5(4.7)

1.30.30.52.1

(0.5)(0.0)(0.1)(0.6)

0.1--0.1

0.80.30.41.4

8.3%14.6%

Reconciliation from reported to underlying results 4Q09

2009
reported

CHF bn

Impact from tight-
ening of spreads
on own debt

Legal
provisions

2009
underlying

Discrete tax
benefits

Gain on sale
of business

Note: numbers may not add to total due to rounding

Net revenues

Prov. for credit losses

Total oper. expenses

Pre-tax income

Income taxes

Income from discon-
tinued operations

Income attributable to
noncontrolling interests

Net income

Return on equity

Fourth Quarter and Full-Year Results 2009

Slide 32

33.60.70.1--34.4

(0.5)----(0.5)

(24.6)-1.0--(23.6)

8.60.71.1--10.6

(1.8)0.2(0.4)-(0.6) (2.6)

0.2--(0.2)-0.0

0.2----0.2

6.70.90.7(0.2)(0.6)7.7

18.3%20.8%

Reconciliation from reported to underlying results 2009

§Collaboration revenues remained
resilient reflecting the strength of the
integrated bank model

§Record 4Q09 quarter

–45% increase over 3Q09

–33% increase over 4Q08

§Good start into 2010, capitalizing on
momentum

§Total collaboration revenues
targeted to reach CHF 10 bn in
2012

CHF bn

2006

2007

2008

4.9

5.9

5.2

2009

5.2

Fourth Quarter and Full-Year Results 2009

Slide 33

Collaboration revenues

Repositioned businesses

Exit businesses

§Emerging Markets - - maintain
leading business but with more
limited risk/credit provision

§US Leveraged Finance - maintain
leading business but focus on
smaller/quicker to market deals

§Corporate Lending - - improved
alignment of lending with business
and ability to hedge

December 2008: Realignment of the Investment Bank

§Equity Trading - - focus on
quantitative and liquid strategies

§Convertibles - focus on client flow

§Highly structured derivatives

§Illiquid principal trading

Develop existing strong
market positions

Maintain competitive advantage
but reduce risk and volatility

Release capital and resources;
reduce volatility

§Global Rates

§Currencies (FX)

§High Grade Credit / DCM

§US RMBS secondary trading

§Commodities trading (joint
venture)

§Strategic advisory (M&A) and
capital markets origination

§Mortgage origination and CDO

§Non-US leveraged finance trading

§Non-US RMBS

§Highly structured derivatives

§Power & emission trading

§Origination of slow to market,
capital-intensive financing
transactions

Key client businesses

Fourth Quarter and Full-Year Results 2009

Slide 34

Equi-
ties

Fixed
Income

Ad-
visory

§Cash equities

§Electronic trading

§Prime services

§Equity derivatives - focus on
flow and corporate trades

§#1 market share in US cash products (leading market
share analysis provider)

§#1 volume in S&P 500 and Nasdaq 100 (Bloomberg)

§#1 RMBS pass-through trading (Tradeweb)

§#2 in the Global High Yield Underwriter Rankings (Full
Credit to Lead Left Bookrunner)(ThomsonReuters)

§#1 In High Yield Sales Rankings , #1 in Loan Market
Penetration, #1 in Special Situations/Distressed Market
Penetration for both Loans and High Yield(Greenwich
Associates)

§#1 pan-an brokerage firm for equity
trading based on commissions paid
(Thomson Extel)

§#1 an convertible trading (Greenwich
Associates)

§#1 LSE Order Book (LSE)

§#1 FTSE 100 (Bloomberg)

§#2 in EMEA Investment Banking wallet
share (Dealogic)(1)

§#2 APAC Investment Banking Share of
Wallet(Dealogic)(1)

§#2 in Asia (ex-Japan) announced M&A
(ThomsonReuters)

§Emerging Markets Bond House of the Year (IFR)

§#1 Latin America M&A market share
(ThomsonReuters)

§#1 Middle East and Africa Equity
underwriting wallet share(Dealogic)

§Best M&A House in the Middle East
(Euromoney)

§Best bank in Switzerland
(Euromoney)

§Best Emerging Markets
M&A House (Euromoney)

1)EMEA includes M&A, ECM, Converts, Lev Fin and DCM; APAC
includes M&A, ECM, HY and DCM (but excludes Japan ECM, Chinese
A-shares and bank loans), Global reflects the sum of the three regions.

Bank of the Year for 2009(International Financing Review)

Best Investment Bank for 2009 (Euromoney)

Fourth Quarter and Full-Year Results 2009

Slide 35

Clients confirm our momentum in investment banking across the globe

Cash equities

Electronic trading

Prime services

Global rates

Foreign exchange

US RMBS trading

High grade trading

M&A

High yield underwriting

Equity underwriting

Product

Investment grade underwriting

3Q09 vs.
2Q09

2Q09 vs.
1Q09

1Q09 vs.
4Q08

Market share trends

2009 period-end vs.
2008 period-end

4Q09
vs. 3Q09

Fourth Quarter and Full-Year Results 2009

Slide 36

Equity

Fixed
income

Invest-
ment
banking

Market share trends across selected products

Cash equities

Electronic trading

Prime services

Global rates

Foreign exchange

US RMBS trading

High grade trading

M&A

High yield underwriting

Equity underwriting

Product

Investment grade underwriting

3Q09 vs.
2Q09

2Q09 vs.
1Q09

1Q09 vs.
4Q08

Volume trends

2009 vs.
2008

4Q09 vs.
3Q09

Fourth Quarter and Full-Year Results 2009

Slide 37

Equity

Fixed
income

Invest-
ment
banking

Volume trends across selected products

Cash equities

Electronic trading

Prime services

Global rates

Foreign exchange

US RMBS trading

High grade trading

M&A

High yield underwriting

Equity underwriting

Product

Investment grade underwriting

3Q09 vs.
2Q09

2Q09 vs.
1Q09

1Q09 vs.
4Q08

Margin trends

4Q09 vs.
3Q09

2009 period-end vs.
2008 period-end

Fourth Quarter and Full-Year Results 2009

Slide 38

Equity

Fixed
income

Invest-
ment
banking

Margin trends across selected products

989

2008

293

696

2009

1,106

301

Commission expenses

G&A expenses

2)

1,173

884

289

Investment Banking compensation expenses (CHF m)

Investment Banking non-compensation expenses (CHF m)

§Compensation accrual based on our economic profit model,
which reflects a full-year view of risk-adjusted profitability
overall and of each business as well as the industry
environment

§The decrease in 4Q09 due to a reversal of previously
accrued performance-related compensation, resulting in a
negative accrual in 4Q09

§Compensation/revenue ratio of 27% in 4Q09 and 41% for
20091) is a result, not a driver, of this accrual

8,652

2,907

2008

3Q09

4Q09

1) Before impact from movements in spreads on own debt

2) Excludes litigation charges of CHF 31m in 4Q09, CHF 47m in 3Q09 and CHF 383 m in 2Q09, corporation
settlement, litigation reserve releases of CHF 333 m in 4Q08 and CHF 73 m in 3Q08 and a net credit of
CHF 134 m pertaining to litigation in 2Q08

2009

2Q09

§Declined vs. 2008 reflecting decreases across most
expense categories, primarily legal fees, T&E, occupancy
costs and recruiting fees.

§During 2009, our IT investment costs increased reflecting
higher investment in our client-focused businesses

7,006

805

2,746

870

4,676

1,342

3,334

4,253

1,155

3,098

2,129

3Q09

1Q09

985

272

713

Fourth Quarter and Full-Year Results 2009

Slide 39

1Q09

4Q09

2Q09

Compensation and non-compensation expenses

7

1) This price represents the average mark on loans and bonds combined

36

26

(91)%

19

15

13

9

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

Commercial mortgages (CHF bn)

Exposure by region

§Further reductions in exposure
achieved in 4Q09 mainly from sales

§Average price of remaining positions
is 47% (from 48% in 3Q09)1)

§Positions are fair valued;
no reclassifications to accrual book

Other

6%

Asia

16%

Germany

28%

US

23%

UK

2%

Other

Continental
Europe

31%

Office
31%

Retail

12%

Hotel

27%

Multi-
family

23%

Exposure by loan type

2Q09

7

3.6

3Q09

3.1

4Q09

Fourth Quarter and Full-Year Results 2009

Slide 40

Commercial mortgage exposure reduction in Investment
Banking

Developed market lending

§Corporate loan portfolio is 77% investment grade, and is mostly (90%)
accounted for on a fair value basis

§Fair value is a forward looking view which balances accounting risks,
matching treatment of loans and hedges

§Loans are carried at an average mark of approx. 99% with average
mark of 94% in non-investment grade portfolio

§Continuing good performance of individual credits: limited specific
provisions during the quarter

Unfunded
commitments

Loans

Hedges

CHF bn

Emerging market lending

§Well-diversified by name and evenly spread between EMEA, Americas
and Asia and approx. 40% accounted for on a fair value basis

§Emerging market loans are carried at an average mark of approx. 95%

§No significant provisions during the quarter

Note: Average mark data is net of fair value discounts and credit
provisions

44

11

(17)

Loans

Hedges

CHF bn

17

(9)

Fourth Quarter and Full-Year Results 2009

Slide 41

Investment Banking loan book

BB+ to BB 6%

BB- and below 2%

Portfolio ratings composition, by
transaction rating

Wealth Management Clients: CHF 125 bn

§Securities-backed lending (CHF 31 bn) with conservative haircuts

§Mortgages (CHF 88 bn) underwriting based on conservative client income and loan-
to-value-requirements

§Prices for real-estate largely flat, falling in structurally weaker regions, not yet in
attractive regions (e.g., Zurich, Lac Léman); stable outlook with risk of sharp price
falls only conceivable in Geneva and certain tourist regions

§Segment not expected to be significantly affected by economic downturn

Corporate & Institutional Clients: CHF 51 bn

§Sound credit quality with relatively low concentrations

§Over 70% collateralized by mortgages and securities

§Counterparties are Swiss corporates incl. real-estate industry

§Commercial real-estate: Prices flat for office space and top-price bracket retail
space, declining for standard retail space; negative outlook

§Corporate client segment will be most affected by an economic downturn, but no
significant deterioration discernible yet

§Impact highly dependent on severity and length of downturn

Total loan book of CHF 176 bn; 85% collateralized and primarily on accrual accounting basis

63%

29%

BBB

AAA to A

Total:CHF 176 bn

Fourth Quarter and Full-Year Results 2009

Slide 42

Private Banking loan book

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		CREDIT SUISSE GROUP AG and CREDIT SUISSE AG
		(Registrant)
	By:	/s/ Romeo Cerutti
		(Signature)*
		General Counsel
		Credit Suisse Group AG and Credit Suisse AG
Date: February 11, 2010
		/s/ Charles Naylor
		Head of Corporate Communications
*Print the name and title under the signature of the signing officer.		Credit Suisse Group AG and Credit Suisse AG