Credit Suisse Earnings Below Estimates

Alina Vasiescu (Tradus de Andrei Năstase)
Ziarul BURSA #English Section / 23 octombrie 2009

c The group posted a net profit of 2.35 billion CHF (2.33 billion USD), up from a loss of 1.26 billion CHF in Q3/08.

The investment banking unit had a pre-tax profit of 1.75 billion CHF, following losses of 3.21 billion CHF in the year-earlier period. Trading revenue rose to 4.3 billion CHF, from a negative balance of 917 million CHF.

The wealth management unit reported a hefty 48 per cent increase in earnings to 723 million CHF, whereas the asset management unit came back in black with a profit of 311 million CHF from losses of 109 million CHF.

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