Credit Suisse Q1 profits up 8 percent

  • News Digest

Apr 25, 2019-

Credit Suisse said on Wednesday its first-quarter net profit rose by 8 percent, with its efforts to focus on wealth management helping balance out problems in investment banking. The bank, which returned to the black last year for the first time since 2014, said net profit hit 749 million Swiss francs (654 million euros, $736 million) despite a “challenging environment”. Net revenues slid by 4 percent from the same quarter last year to 5.4 billion Swiss francs, but that was up more than 12 percent from the final three months of 2018. Its investment banking and capital markets unit posted a pre-tax loss of $94 million, with revenues dropping by more than a third from the same quarter last year. Its global markets also saw revenues slide by 10 percent. (AFP)

Published: 25-04-2019 10:50

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