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Credit Suisse CEO says has good reason to believe conditions improving
December 7, 2016 / 11:25 AM / a year ago

Credit Suisse CEO says has good reason to believe conditions improving

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

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. REUTERS/Arnd Wiegmann

“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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