|
|
Article: Credit Suisse reports 29 percent rise in Q2 profit
- Article from:
- AP Online
- Article date:
- July 23, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment banking unit drove up core revenues.
The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.
Shares rose 5.8 percent to close at 51.80 francs ($48.62) on the Zurich exchange.
Credit Suisse noted that the results included one-time charges, legal costs and tax benefits, without which net profit in the second quarter would have been 2.5 billion francs. Credit Suisse settled a dispute last month with Huntsman Corp. over claims the bank scuttled ...