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Article: Big jump in Credit Suisse netMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- August 3, 2007
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Jacob Greber
International Herald Tribune
08-03-2007
Credit Suisse Group on Thursday posted the biggest quarterly profit gain among the world's top investment banks by raising securities-trading income to a record and avoiding losses on subprime mortgage loans. Second-quarter net income at the second-largest Swiss bank rose 48 percent to 3.19 billion Swiss francs, or $2.65 billion, from 2.16 billion francs a year earlier, Credit Suisse said. Earnings beat the estimate for 2.27 billion francs by analysts surveyed by Bloomberg.Rising stock markets in the quarter spurred profit from trading at Credit Suisse, which is headed by Brady Dougan, and fattened fees at the bank's wealth management ...