Prepared and filed by St Ives Financial

FORM 6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of July 20, 2006


Commission File Number 001-15244

CREDIT SUISSE GROUP
(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 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-       

 

Consolidated income statement (unaudited)                    
                           
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Interest and dividend income   26,312   36,116   7,607   8,889   9,229   10,391   11,317  
Interest expense   (18,796 ) (29,198 ) (5,717 ) (6,794 ) (7,602 ) (9,085 ) (9,651 )
 
 
 
Net interest income   7,516   6,918   1,890   2,095   1,627   1,306   1,666  
 
 
 
Commissions and fees   13,323   14,323   3,184   3,402   3,693   4,044   4,234  
Trading revenues   3,671   5,638   1,671   632   2,012   1,323   3,371  
Realized gains/(losses) from investment securities, net   4   (4 ) 11   11   11   (37 ) 37  
Other revenues   2,519   3,614   627   1,277   780   930   1,617  
 
 
 
Total noninterest revenues   19,517   23,571   5,493   5,322   6,496   6,260   9,259  
 
 
 
Net revenues   27,033   30,489   7,383   7,417   8,123   7,566   10,925  
 
 
 
Provision for credit losses   83   (144 ) (34 ) (30 ) (46 ) (34 ) (61 )
 
 
 
Compensation and benefits   11,951   13,974   3,296   3,099   3,595   3,984   4,473  
Other expenses   7,632   9,259   1,720   2,945   2,036   2,558   2,165  
Restructuring charges   (2 ) (1 ) 0   0   0   (1 ) 0  
 
 
 
Total operating expenses   19,581   23,232   5,016   6,044   5,631   6,541   6,638  
                               
Income from continuing operations before taxes,
minority interests, extraordinary items and
cumulative effect of accounting changes		   7,369   7,401   2,401   1,403   2,538   1,059   4,348  
 
 
 
Income tax expense/(benefit)   1,293   927   495   28   512   (108 ) 715  
Minority interests, net of tax   1,080   1,948   276   692   490   490   1,291  
 
 
 
Income from continuing operations before
extraordinary items and cumulative effect of
accounting changes		   4,996   4,526   1,630   683   1,536   677   2,342  
 
 
 
Income/(loss) from discontinued operations, net of tax 1)   639   1,310   266   236   382   426   286  
Extraordinary items, net of tax   0   0   0   0   0   0   (24 )
Cumulative effect of accounting changes, net of tax   (7 ) 14   14   0   0   0   0  
 
 
 
Net income   5,628   5,850   1,910   919   1,918   1,103   2,604  
 
 
 
1) Income amounts presented in discontinued operations relating to Winterthur differ from those previously reported in the segment results, due to the elimination of intercompany transactions between Winterthur and Credit Suisse Group. Intercompany transactions are not eliminated for the purposes of presenting segment results, but are excluded from earnings when presented in the line item "Income/(loss) from discontinued operations, net of tax".  
                               
    12 months                      
   
                     
  2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Return on equity – Group   15.9 % 15.4 % 20.6 % 9.8 % 20.1 % 11.2 % 24.4 %
 
 
 
Return on equity – Banking   17.8 % 16.2 % 22.9 % 9.1 % 22.7 % 10.8 % 27.4 %
 
 
 
Basic earnings per share in CHF   4.80   5.17   1.64   0.82   1.67   0.98   2.31  
 
 
 
Diluted earnings per share in CHF   4.75   5.02   1.63   0.79   1.63   0.95   2.21  
 
 
 


Investment Banking income statement (unaudited)                  
                         
  12 months                      
 
                     
in CHF m 2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net interest income 4,134   3,372   1,016   1,223   712   421   748  
 
 
 
Commissions and fees 6,171   6,709   1,327   1,566   1,832   1,984   1,942  
Trading revenues and realized gains/(losses) from investment securities, net 2,872   4,931   1,484   465   1,779   1,203   2,943  
Other revenues 564   535   167   163   78   127   124  
 
 
 
Total noninterest revenues 9,607   12,175   2,978   2,194   3,689   3,314   5,009  
 
 
 
Net revenues 13,741   15,547   3,994   3,417   4,401   3,735   5,757  
 
 
 
Provision for credit losses (34 ) (73 ) (19 ) (1 ) (40 ) (13 ) (55 )
 
 
 
Compensation and benefits 7,765   8,621   2,135   1,977   2,373   2,136   3,080  
Other expenses 3,987   5,400   946   1,999   1,129   1,326   1,168  
 
 
 
Total operating expenses 11,752   14,021   3,081   3,976   3,502   3,462   4,248  
 
 
 
Income/(loss) from continuing operations before
taxes, minority interests, extraordinary items
and cumulative effect of accounting changes		 2,023   1,599   932   (558 ) 939   286   1,564  
   
 
Excluding minority interest revenues/expenses relating primarily to consolidated entities in which the Group does not have a significant economic interest.  
                             
Investment Banking revenue disclosure (unaudited)                      
  12 months                      
 
                     
in CHF m 2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Debt underwriting 1,401   1,484   271   411   408   394   456  
Equity underwriting 747   931   139   186   263   343   249  
 
 
 
Underwriting 2,148   2,415   410   597   671   737   705  
 
 
 
Advisory and other fees 1,161   1,475   225   369   433   448   333  
 
 
 
Total investment banking 3,309   3,890   635   966   1,104   1,185   1,038  
 
 
 
Fixed income 6,191   7,004   2,116   1,353   1,969   1,566   2,767  
Equity 3,795   4,340   1,066   912   1,341   1,021   2,077  
 
 
 
Total trading 9,986   11,344   3,182   2,265   3,310   2,587   4,844  
 
 
 
Other (including loan portfolio) 446   313   177   186   (13 ) (37 ) (125 )
 
 
 
Net revenues 13,741   15,547   3,994   3,417   4,401   3,735   5,757  
 
 
 
                             
  12 months                      
 
                     
2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Cost/income ratio 85.5 % 90.2 % 77.1 % 116.4 % 79.6 % 92.7 % 73.8 %
 
 
 
Pre-tax income margin 14.7 % 10.3 % 23.3 % (16.3 %) 21.3 % 7.7 % 27.2 %
 
 
 
Compensation/revenue ratio 56.5 % 55.5 % 53.5 % 57.9 % 53.9 % 57.2 % 53.5 %
 
 
 
Average economic risk capital, in CHF m 10,922   13,246   11,221   12,708   14,229   15,109   15,871  
 
 
 
Pre-tax return on average economic risk capital 1) 20.9 % 14.7 % 35.8 % (15.2 %) 28.9 % 10.3 % 42.0 %
 
 
 
1) Calculated using a return excluding funding costs for allocated goodwill.  


Private Banking income statement (unaudited)                  
                           
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net interest income   3,651   3,716   922   924   946   924   966  
 
 
 
Commissions and fees   5,434   5,812   1,403   1,364   1,510   1,535   1,807  
Trading revenues and realized gains/(losses) from investment securities, net   629   793   167   168   222   236   303  
Other revenues   238   174   47   68   38   21   34  
 
 
 
Total noninterest revenues   6,301   6,779   1,617   1,600   1,770   1,792   2,144  
 
 
 
Net revenues   9,952   10,495   2,539   2,524   2,716   2,716   3,110  
 
 
 
Provision for credit losses   116   (71 ) (16 ) (28 ) (6 ) (21 ) (8 )
 
 
 
Compensation and benefits   3,155   3,588   906   876   918   888   1,071  
Other expenses   2,966   3,012   675   747   767   823   739  
Restructuring charges   (2 ) 0   0   0   0   0   0  
 
 
 
Total operating expenses   6,119   6,600   1,581   1,623   1,685   1,711   1,810  
 
 
 
Income from continuing operations before taxes,
minority interests, extraordinary items and
cumulative effect of accounting changes		   3,717   3,966   974   929   1,037   1,026   1,308  
 
 
 
                               
    12 months                      
   
                     
  2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Cost/income ratio   61.5 % 62.9 % 62.3 % 64.3 % 62.0 % 63.0 % 58.2 %
 
 
 
Pre-tax margin   37.3 % 37.8 % 38.4 % 36.8 % 38.2 % 37.8 % 42.1 %
 
 
 
Net new assets, in CHF bn   36.8   50.4   14.1   8.6   18.8   8.9   14.8  
 
 
 
Average economic risk capital, in CHF m   4,718   4,714   4,655   4,727   4,741   4,743   4,778  
Pre-tax return on average economic risk capital 1)   79.8 % 85.5 % 84.8 % 79.8 % 88.9 % 88.2 % 111.1 %
 
 
 
1) Calculated using a return excluding funding costs for allocated goodwill.                          
                               
Wealth Management income statement (unaudited)                      
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net interest income   1,569   1,625   411   401   417   396   458  
 
 
 
Total noninterest revenues   5,083   5,500   1,294   1,287   1,447   1,472   1,769  
 
 
 
Net revenues   6,652   7,125   1,705   1,688   1,864   1,868   2,227  
 
 
 
Provision for credit losses   (5 ) 25   3   16   4   2   0  
 
 
 
Compensation and benefits   2,071   2,367   589   575   607   596   735  
Other expenses   2,007   2,072   470   503   532   567   529  
Restructuring charges   (3 ) 0   0   0   0   0   0  
 
 
 
Total operating expenses   4,075   4,439   1,059   1,078   1,139   1,163   1,264  
 
 
 
Income from continuing operations before taxes,
minority interests, extraordinary items and
cumulative effect of accounting changes		   2,582   2,661   643   594   721   703   963  
 
 
 
                               
    12 months                      
   
                     
  2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Cost/income ratio   61.3 % 62.3 % 62.1 % 63.9 % 61.1 % 62.3 % 56.8 %
 
 
 
Pre-tax income margin   38.8 % 37.3 % 37.7 % 35.2 % 38.7 % 37.6 % 43.2 %
 
 
 
Net new assets, in CHF bn   31.4   42.8   11.1   8.1   16.8   6.8   14.5  
 
 
 
Net new asset growth (rolling four quarter average)   5.8 % 7.5 % 5.3 % 5.1 % 7.4 % 7.5 % 7.8 %
 
 
 
Net new asset growth   5.8 % 7.5 % 7.8 % 5.4 % 10.6 % 4.0 % 8.4 %
 
 
 
Gross margin on assets under management   117.4 bp   112.6 bp   117.2 bp   110.0 bp   114.3 bp   109.4 bp   124.6 bp  
 
 
 
   of which asset-based   77.9 bp   72.6 bp   77.8 bp   70.3 bp   72.3 bp   70.3 bp   73.1 bp  
 
 
 
   of which transaction-based   39.5 bp   40.1 bp   39.4 bp   39.7 bp   41.9 bp   39.1 bp   51.5 bp  
 
 
 
Net margin (pre-tax) on assets under management   45.6 bp   42.0 bp   44.2 bp   38.7 bp   44.2 bp   41.2 bp   53.9 bp  
 
 
 


                               
                               
Corporate & Retail Banking income statement (unaudited)                  
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net interest income   2,082   2,092   512   523   529   528   508  
Total noninterest revenues   1,217   1,278   323   313   323   319   375  
 
 
 
Net revenues   3,299   3,370   835   836   852   847   883  
 
 
 
Provision for credit losses   122   (96 ) (19 ) (44 ) (10 ) (23 ) (8 )
 
 
 
Compensation and benefits   1,083   1,221   318   301   311   291   336  
Other expenses   959   940   205   243   235   257   210  
 
 
 
Total operating expenses   2,042   2,161   523   544   546   548   546  
 
 
 
Income from continuing operations before taxes,
minority interests, extraordinary items and
cumulative effect of accounting changes		   1,135   1,305   331   336   316   322   345  
 
 
 
                               
    12 months                      
   
                     
  2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Cost/income ratio   61.9 % 64.1 % 62.6 % 65.1 % 64.1 % 64.7 % 61.8 %
 
 
 
Pre-tax income margin   34.4 % 38.7 % 39.6 % 40.2 % 37.1 % 38.0 % 39.1 %
 
 
 
Net new assets, in CHF bn   5.4   7.6   3.0   0.5   2.0   2.1   0.3  
 
 
 
Average economic risk capital, in CHF m   3,271   3,122   3,168   3,161   3,167   3,041   2,858  
Pre-tax return on average economic risk capital 1)   34.8 % 41.9 % 41.8 % 42.6 % 40.0 % 42.4 % 48.4 %
 
 
 
1) Calculated using a return excluding funding costs for allocated goodwill.                          
                               


Asset Management income statement (unaudited)                  
                           
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net interest income   (53 ) (68 ) (13 ) (14 ) (19 ) (22 ) (19 )
 
 
 
Commissions and fees   2,020   2,076   524   498   515   539   561  
Trading revenues and realized gains/(losses) from investment securities, net   45   41   7   16   8   10   (11 )
Other revenues   536   752   96   282   144   230   225  
 
 
 
Total noninterest revenues   2,601   2,869   627   796   667   779   775  
 
 
 
Net revenues   2,548   2,801   614   782   648   757   756  
 
 
 
Provision for credit losses   0   0   0   0   0   0   2  
 
 
 
Compensation and benefits   948   947   225   217   253   252   261  
Other expenses   784   848   181   208   195   264   259  
   of which commission expenses   308   295   63   79   67   86   84  
 
 
 
Total operating expenses   1,732   1,795   406   425   448   516   520  
 
 
 
Income from continuing operations before taxes,
minority interests, extraordinary items and
cumulative effect of accounting changes		   816   1,006   208   357   200   241   234  
 
 
 
Excluding minority interest revenues/expenses relating primarily to consolidated entities in which the Group does not have a significant economic interest.      
                               
                               
Asset Management revenue disclosure (unaudited)                      
                           
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Asset management revenues   1,772   1,909   472   476   459   502   494  
Private equity commissions and fees   256   194   57   40   50   47   56  
 
 
 
Net revenues before private equity gains   2,028   2,103   529   516   509   549   550  
 
 
 
Private equity gains   520   698   85   266   139   208   206  
 
 
 
Net revenues   2,548   2,801   614   782   648   757   756  
 
 
 
                               
    12 months                      
   
                     
  2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Cost/income ratio   68.0 % 64.1 % 66.1 % 54.3 % 69.1 % 68.2 % 68.8 %
 
 
 
Pre-tax income margin   32.0 % 35.9 % 33.9 % 45.7 % 30.9 % 31.8 % 31.0 %
 
 
 
Net new assets   0.7   19.6   3.9   11.4   5.1   (0.8 ) 17.0  
 
 
 
   of which private equity   (9.1 ) 4.6   0.1   1.7   1.5   1.3   2.4  
 
 
 
   of which advisory assets   12.9   5.3   1.1   0.0   1.0   3.2   1.0  
 
 
 
Gross margin on assets under management   54.6 bp   54.5 bp   52.1 bp   62.8 bp   49.4 bp   54.0 bp   49.8 bp  
Net margin (pre-tax) on average assets under management   17.5 bp   19.6 bp   17.6 bp   28.7 bp   15.3 bp   17.2 bp   15.4 bp  
 
 
 
Average economic risk capital, in CHF m   961   1,118   939   1,046   1,191   1,311   1,345  
Pre-tax return on average economic risk capital 1)   92.1 % 98.0 % 97.1 % 143.7 % 75.2 % 82.1 % 77.7 %
 
 
 
1) Calculated using a return excluding funding costs for allocated goodwill.                    
                     


Corporate Center income statement (unaudited)                  
                           
    12 months                      
   
                     
in CHF m   2004   2005   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Net revenues   792   1,646   236   694   358   358   1,302  
 
 
 
Provision for credit losses   1   0   1   (1 ) 0   0   0  
 
 
 
Compensation and benefits   83   818   30   29   51   708   61  
Other expenses   (105 ) (1 ) (82 ) (9 ) (55 ) 145   (1 )
Restructuring charges   0   (1 ) 0   0   0   (1 ) 0  
 
 
 
Total operating expenses   (22 ) 816   (52 ) 20   (4 ) 852   60  
 
 
 
Income/(loss) from continuing operations before
taxes, minority interests, extraordinary items
and cumulative effect of accounting changes		   813   830   287   675   362   (494 ) 1,242  
 
 
 
           


Assets under management                          
                           
in CHF bn   31.12.04   31.03.05   30.06.05   30.09.05   31.12.05   31.03.06  
   
 
 
 
Investment Banking   15.2   16.1   14.2   14.4   14.5   14.3  
Private Banking   691.5   724.5   763.7   812.6   837.6   882.7  
   Wealth Management   567.8   596.1   631.7   673.3   693.3   733.7  
   Corporate & Retail Banking   123.7   128.4   132.0   139.3   144.3   149.0  
Asset Management   462.5   480.6   515.4   533.3   589.4   619.6  
 
 
 
Less assets managed on behalf of other segments   (86.0 ) (91.6 ) (99.2 ) (105.7 ) (107.6 ) (120.0 )
 
 
 
Credit Suisse Group   1,083.2   1,129.6   1,194.1   1,254.6   1,333.9   1,396.6  
 
 
 
   of which discretionary   458.3   478.7   515.3   534.9   592.1   616.0  
   of which advisory   624.9   650.9   678.8   719.7   741.8   780.6  
 
 
 
                         
Net new assets                          
                         
in CHF bn   4Q2004   1Q2005   2Q2005   3Q2005   4Q2005   1Q2006  
 
 
 
Investment Banking   0.2   (0.5 ) (1.5 ) 0.0   0.0   0.2  
Private Banking   7.0   14.1   8.6   18.8   8.9   14.9  
   Wealth Management   6.3   11.1   8.1   16.8   6.8   14.6  
   Corporate & Retail Banking   0.7   3.0   0.5   2.0   2.1   0.3  
Asset Management   (3.1 ) 3.9   11.4   5.1   (0.8 ) 17.0  
 
 
 
Less net new assets managed on behalf of other segments   0.3   (4.7 ) (2.6 ) (5.2 ) (0.1 ) (4.6 )
 
 
 
Credit Suisse Group   4.4   12.8   15.9   18.7   8.0   27.5  
 
 
 
                         
Client assets                          
                         
in CHF bn   31.12.04   31.03.05   30.06.05   30.09.05   31.12.05   31.03.06  
 
 
 
Investment Banking   95.1   104.5   112.6   108.3   69.6   73.6  
Private Banking   780.0   814.8   866.9   921.1   951.9   1,000.4  
Asset Management   468.5   486.8   521.7   539.9   596.0   626.1  
   
 
 
 
Less client assets managed on behalf of other segments   (86.0 ) (91.6 ) (99.2 ) (105.7 ) (107.6 ) (120.0 )
 
 
 
Credit Suisse Group   1,257.6   1,314.5   1,402.0   1,463.6   1,509.9   1,580.1  
 
 
 
                         

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
    (Registrant)
     
  By: /s/ Urs Rohner
    (Signature)*
    General Counsel
 Date: July 20, 2006    
    /s/ Charles Naylor
*Print the name and title under the signature of the signing officer.   Head of Corporate Communications