Related News
Credit Suisse profit rises
SWISS bank Credit Suisse Group yesterday reported a 29 percent increase in second-quarter net profit after a strong performance in its investment unit drove up core revenues.
The net profit of 1.57 billion Swiss francs (US$1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.
Credit Suisse noted that the results included one-time charges, legal costs and tax benefits, without which net profit in the second quarter would have been 2.5 billion francs.
Credit Suisse settled a dispute last month with Huntsman Corp over claims the bank scuttled a US$6.5 billion buyout of the US-based chemicals maker.
"Our reduced-risk business model is providing the basis for more sustainable, high-quality, lower volatility earnings," Chief Executive Brady W. Dougan said in a statement.
Investment banking made a profit of about 1.66 billion francs before tax.
Profit in private banking dropped 23 percent to 935 million. Wealth management saw a similar decline to 662 million francs before tax.
The net profit of 1.57 billion Swiss francs (US$1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.
Credit Suisse noted that the results included one-time charges, legal costs and tax benefits, without which net profit in the second quarter would have been 2.5 billion francs.
Credit Suisse settled a dispute last month with Huntsman Corp over claims the bank scuttled a US$6.5 billion buyout of the US-based chemicals maker.
"Our reduced-risk business model is providing the basis for more sustainable, high-quality, lower volatility earnings," Chief Executive Brady W. Dougan said in a statement.
Investment banking made a profit of about 1.66 billion francs before tax.
Profit in private banking dropped 23 percent to 935 million. Wealth management saw a similar decline to 662 million francs before tax.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.