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4/24, 7:11 AM (Source: TeleTrader)
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Credit Suisse revenue down 4% to 5.4B Swiss francs in Q1

Credit Suisse said on Wednesday that its revenue in the first quarter of 2019 stood at 5.4 billion Swiss francs, marking a 4% decline compared to the same period a year ago but still topping market estimates. Net income came in at 749 million Swiss francs, rising 8% year on year and marking the lender's highest profit since 2015. Meanwhile, pre-tax income rose 1% to 1.1 billion in the three month period.

"In a challenging quarter, which was the first after the end of our three-year restructuring, we achieved our fifth consecutive quarter of positive income with net income of CHF 749 million, up 8% year on year," CEO Tidjane Thiam stated. "We are now operating with a lower risk profile, a stronger capital base and a structurally lower cost base. Our model is resilient; this allows us to protect our bottom line during periods when markets are challenging and provides upside when conditions improve," he added.

Breaking the News / NP