The annual waste of annual reports

Dense text, beautiful photography, corporate responsibility and whole chapters on sustainability - but why are bank reports getting bigger and heavier, and who is at fault?

Paragraph after paragraph of dense text and financials, a stunningly illustrated business review and a corporate citizenship report - including examples of social value, such as time staff dedicated to voluntary work, number of apprenticeships, and average number of kilowatt hours used in the course of a year. A total of 492 pages. Welcome to Credit Suisse's annual report.

The report landed on Financial News' desks earlier this month, weighing in at a hefty 2.15kg. It is typical of banks' concerted efforts in recent years to demonstrate how transparent they are, the result of which has been letter-box-busting tomes. Credit Suisse's report, for example, has gone from relatively quick bedtime read at 80 pages in 1996/97 to an academic dust-gatherer in 2009/10. That's a 600% growth in bulk and a big task for shareholders to wade through.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump