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Credit Suisse recorded a sharp rise in profits
Section:   en » Banks      22 апреля 2015  
Credit Suisse recorded a sharp rise in profits
 
The net profit of the Swiss financial services company Credit Suisse Group AG increased by 23% in I quarter of the year, as the lender recorded a jump in the investment division and continues to cut costs.

Overall, net sales increased by only 3%, the bank said, and its business sector capital management declined over the period.

Credit Suisse recorded that the stock of capital to cover potential losses declined slightly in the III quarter after the recent sharp rise in the value of the Swiss franc.

Net income rose to 1.05 billion Swiss francs ($ 1.1 billion) in the quarter compared with 859 million francs in the same period last year and against expectations of analysts, forecast 970 million francs.

At Credit Suisse report stresses that measures taken by them to reduce costs allowed "successfully offset the effects of the strengthening of the franc" for the performance of the bank. The bank had previously announced its intention to reduce the cost of 200 million francs in response to the strengthening of the Swiss currency.

Head of Credit Suisse Brady Dougan will soon leave his post in June of this year, the bank will be headed by Tijan Thiam. The price of shares Credit Suisse since the beginning of 2015 jumped 6.9%, the bank's capitalization is estimated at 43.1 billion francs.
 
See also:

  • Credit Agricole increased its profit by 12 times
  • Barclays cut its net profit by 52%
  • American Express recorded a net profit growth of 6.5%
  • Citigroup cut its earnings and revenue in the I quarter of 2016
  • Bank of America has reduced the profit by 13%


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