Swiss bank sees US$2.37b net in Q3
By Alexander G. Higgins |
October 23, 2009, Friday
|
Print Edition
Print Edition
SWISS bank Credit Suisse Group reported yesterday a net profit of 2.4 billion Swiss francs (US$2.37 billion) for the third quarter, helped by strong returns on financial market trading and investment banking.
The figure exceeded analysts' predictions and compared with a 1.26 billion franc loss during the same period a year ago.
The bank said its return on equity attributable to shareholders was 25.1 percent in the quarter and that it attracted total net new assets of 16.7 billion francs in the period.
"Our third-quarter performance, including our strong return on equity ... shows that our approach continues to work well and is providing the foundation for sustainable, high-quality, lower volatility earnings," said Chief Executive Brady W. Dougan.
Dougan said Credit Suisse has accelerated since last year the implementation of its client-focused business model that reduces risk.
The company has a Tier 1 ratio of 16.4 percent and is positioned to prosper in the new competitive landscape, he said. Brady and Chairman Hans-Ulrich Doerig said in a letter to shareholders that the bank's capital position was among the best in the industry.
"Our third-quarter performance complemented a strong first half of the year," said Dougan and Doerig.
The bank said its net revenues for the quarter were 8.9 billion francs, 195 percent higher than the 3 billion francs for the same period last year.
It said its private banking business had a pretax income of 867 million francs in the quarter, with inflows in global and Swiss businesses.
The figure exceeded analysts' predictions and compared with a 1.26 billion franc loss during the same period a year ago.
The bank said its return on equity attributable to shareholders was 25.1 percent in the quarter and that it attracted total net new assets of 16.7 billion francs in the period.
"Our third-quarter performance, including our strong return on equity ... shows that our approach continues to work well and is providing the foundation for sustainable, high-quality, lower volatility earnings," said Chief Executive Brady W. Dougan.
Dougan said Credit Suisse has accelerated since last year the implementation of its client-focused business model that reduces risk.
The company has a Tier 1 ratio of 16.4 percent and is positioned to prosper in the new competitive landscape, he said. Brady and Chairman Hans-Ulrich Doerig said in a letter to shareholders that the bank's capital position was among the best in the industry.
"Our third-quarter performance complemented a strong first half of the year," said Dougan and Doerig.
The bank said its net revenues for the quarter were 8.9 billion francs, 195 percent higher than the 3 billion francs for the same period last year.
It said its private banking business had a pretax income of 867 million francs in the quarter, with inflows in global and Swiss businesses.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
