Credit Suisse report 23% higher profit in Q1 2015
Credit Suisse reported 23% higher profit for the first quarter, which is a signal that Swiss lender recovers from the fall last year. The net profit of the bank rose to 1,054 billion CHF (1.1 billion USD) compared to 859 million CHF an year earlier. The result exceeds expectations for 1.03 billion CHF, which was […]
Credit Suisse reported 23% higher profit for the first quarter, which is a signal that Swiss lender recovers from the fall last year. The net profit of the bank rose to 1,054 billion CHF (1.1 billion USD) compared to 859 million CHF an year earlier. The result exceeds expectations for 1.03 billion CHF, which was the median forecast of the analysts.
The second largest Swiss bank announced that the ratio of capital to risk-weighted assets has reached 10% compared with 10.1% at the end of last year. This ratio is one of the main concerns of investors. Credit Suisse Group AG said in January that it is not affected, nor are reported trading losses resulting from the abolition of the ceiling of the appreciation of the CHF against the EUR.
The shares of Credit Suisse rose with 6.9% this year, bringing the market stake of the bank reached 43.1 billion CHF, which makes the bank opne of the main loan granting companies in Europe. For comparison, over the same period the capitalization of UBS AG Group – the largest Swiss bank, rose by 11.5%.
