Credit Suisse Q3 net income grows 108%

Wednesday, 30. October 2019 07:14

Credit Suisse published on Wednesday net income grew by 108% year-on-year to 881 million Swiss francs in the third quarter ending September 30. The group's net revenue was 5.3 billion Swiss francs which represents a rise of 6% from the same period last year reflecting the transfer of the InvestLab fund platform to Allfunds Group, which generated 98 million Swiss francs in gains for Corporate & Institutional Clients (C&IC).

Tidjane Thiam, Chief Executive Officer of Credit Suisse commented that the company continued to grow its wealth management franchises, increasing its revenues and gathering record net new assets of 72 billion Swiss francs across the group year to date.

"Our Global Investment Banking revenues, across markets and advisory, underwriting and financing activities, have also grown strongly, up 8% year on year. Overall, we are reporting our 12th consecutive quarter of year on year positive operating leverage and profit growth," said Thiam.

Related Links: Credit Suisse Group
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Breaking the News / TF