Arab Today, arab today credit suisse sees first quarter profit drop
Last Updated : GMT 05:58:01
Arab Today, arab today
Arab Today, arab today

Credit Suisse sees first quarter profit drop

Arab Today, arab today

Arab Today, arab today Credit Suisse sees first quarter profit drop

ZURICH - AFP

Swiss bank Credit Suisse on Wednesday reported a 45 percent drop in first quarter net profit as it sustained 617 million Swiss francs ($700 million) in valuation losses on debt and derivative liabilities. Net profit attributable to shareholders reached 1.1 billion in the first quarter, the banking group said in a statement, largely in line with an average forecast by analysts polled by Swiss business news agency AWP. Credit Suisse experienced a decline in the growth of net new money flows, which reached 19.1 billion Swiss francs, a 26.5 percent decline over a year earlier when it was partly profiting from the weakness of Swiss rival UBS. However, overall assets under management were up 1.3 percent compared to a year ago, the bank said. First quarter net revenues grew by 13 percent year-on-year to 7.8 billion Swiss francs, while the bank said its results were weakened by the strength of the Swiss franc against the euro and the dollar. \"We have continued to work with regulators to help build a more robust financial system, spearheading the creation of a market for contingent convertible capital,\" said chief executive Brady Dougan. \"I am convinced that clients and investors will recognize that, by being an early adopter of new regulatory requirements, Credit Suisse is extremely well positioned and will be better placed to create significant value for them.\" Contingent convertible capital is a new form of bond accounting that the financial community believes will reinforce banks during crises. Credit Suisse said it had brought its Tier One capital ratio, a measure of its capital foundations, to 18.2 percent, by the end of the first quarter.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today credit suisse sees first quarter profit drop Arab Today, arab today credit suisse sees first quarter profit drop

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today credit suisse sees first quarter profit drop Arab Today, arab today credit suisse sees first quarter profit drop

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday