December 7, 2016 / 11:25 AM / 8 months ago

Credit Suisse CEO says has good reason to believe conditions improving

CEO Tidjane Thiam (R) of Swiss bank Credit Suisse awaits a news conference to present the bank's halfyear results in Zurich, Switzerland July 28, 2016.Arnd Wiegmann

ZURICH (Reuters) - Challenging market conditions could be set to improve, Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam said on Wednesday.

"We are protecting returns during volatile markets to provide significant upside when conditions improve and there’s good reason to believe that they are improving," Thiam said in a presentation for the Swiss bank's investor day.

Earlier, Credit Suisse pledged to cut another 1 billion Swiss francs ($991.5 million) in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money.

($1 = 1.0086 Swiss francs)

Reporting by Joshua Franklin

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