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Credit Suisse reports nearly 6-fold rise in 3Q net profit - Business Insider Deutschland

Credit Suisse reports nearly 6-fold rise in 3Q net profit – Business Insider Deutschland


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GENEVA (AP) — Credit Suisse has reported a nearly six-fold jump in third-quarter net profit behind a „very strong“ performance by its wealth management business amid continued cost savings and a restructuring plan at the Swiss bank.

The Zurich-based bank predicted strong global economic growth in the fourth quarter that could underpin its results despite political uncertainty.

Net créditos rápidos faciles [simply click the up coming document] income rose to 244 million Swiss francs (dollars) in the third quarter, up from 41 million creditos rapidos al instante (simply click the up coming document) a year earlier. Adjusted net revenues fell 2 percent to 5 billion francs.

Credit Suisse said Thursday its deal pipeline has a „substantial backlog,“ and expects its wealth management business to remain strong.

The bank is over halfway through a three-year restructuring plan under CEO Tidjane Thiam, and reaped about 400 million francs in cost savings in the quarter.

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