April 23, 2020 / 5:17 AM / a month ago

Credit Suisse sees Q1 profit rise 75% as it warns of uncertainty

ZURICH, April 23 (Reuters) - Credit Suisse Group AG posted a 75% rise in first-quarter net profit on Thursday, even as it cautioned the global coronavirus pandemic could impact performance in coming quarters.

“The scale of the adverse economic impact of the COVID-19 crisis is still difficult to assess and we would caution that we may also see further reserve build and impairments in the coming quarters,” the Swiss bank said in a statement. “We are well prepared to continue to serve our clients and we believe we can maintain a resilient financial performance through this crisis.”

Credit Suisse saw profit rise to 1.314 billion Swiss francs ($1.35 billion). Fourteen analysts polled by the bank had on average expected to see net profit of 997 million francs for the quarter. ($1 = 0.9715 Swiss francs) (Reporting by Brenna Hughes Neghaiwi Editing by Riham Alkousaa)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below