Credit Suisse significant growth in the third quarter results

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Credit Suisse significant growth in the third quarter results

Date Added: October 23, 2009 11:35:43 AM

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Credit Suisse (Credit Suisse) announced yesterday the three quarterly shows to benefit from strong investment banking and private banking, business receipts were recorded in the third quarter, the bank's 2.35 billion Swiss francs (2.38 billion U.S. dollars) in net income significantly exceeded market expectations .

Credit Suisse's three-quarter results showed that the quarter's net income rose to 2.35 billion Swiss francs, while the same period last year companies have suffered huge trading losses, structured products, asset write-down losses of 1.26 billion Swiss francs. Third quarter net income reached 8.92 billion Swiss francs, net income tripled over the same period last year. Both results exceeded analysts have widely predicted before the highest profit forecast. Among them, Credit Suisse's investment banking pre-tax profit rose 5 percent to 17.5 billion Swiss francs, while private banking pre-tax profits fell 7% to 867 million Swiss francs, but the sector has attracted 13.1 billion Swiss francs in the quarter a new into the funds, the company's asset management division posted a third-quarter net inflow of funds is also the state of reintegration.

Credit Suisse CFO Renato Fassbind to the outside world said that while corporate profits have not yet reached record levels, the Company's confidence in the current situation. He said the company has reintegration have proven world-class financial enterprise, be able, like Goldman Sachs, JP Morgan Chase, like respond to future economic and market changes.

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