Credit Suisse: posts highest quarterly profit since 2015

(CercleFinance.com) - Credit Suisse has posted its highest quarterly profit since 2015, saying that it was now operating with a lower risk profile and a lower cost base.


This morning the Swiss investment bank posted first-quarter net attributable income of 749 million Swiss francs, its highest quarterly profit since the third quarter of 2015, up from 694 million Swiss francs a year ago.

This is 11% above the consensus.

Despite a "challenging" environment, its wealth management unit has proven resilient over a difficult quarter. Its trading unit also continued to make progress in the past quarter, with net revenues up 23%.

Credit Suisse said that the positive momentum it observed towards the end of the first quarter has broadly continued into April, and has added that it was "cautiously optimistic" about its prospects for the second quarter of 2019.

The Zurich-listed shares were up 2.7% after these reassuring results and positive outlook.

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