Switzerland - Credit Suisse record
April 28, 2013, Sunday
|
Print Edition
Print Edition
SWISS bank Credit Suisse Group said Wednesday that its cost-cutting efforts helped it record a huge jump in first-quarter profits compared with a year earlier.
Switzerland's second-biggest bank posted a profit of 1.3 billion Swiss francs (US$1.37 billion), up sharply from the 44 million francs in the first quarter of 2012, when it booked a loss of 1.6 billion francs on its own outstanding debt and paid out higher bonuses.
Net revenue rose 6 percent to 7.2 billion francs.
The bank said the figures showed "positive momentum" from its attempts to transform its business model, that includes a lot of cost-cutting.
Switzerland's second-biggest bank posted a profit of 1.3 billion Swiss francs (US$1.37 billion), up sharply from the 44 million francs in the first quarter of 2012, when it booked a loss of 1.6 billion francs on its own outstanding debt and paid out higher bonuses.
Net revenue rose 6 percent to 7.2 billion francs.
The bank said the figures showed "positive momentum" from its attempts to transform its business model, that includes a lot of cost-cutting.
- 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.
