Credit Suisse reports 24% rise in net profit as it merges its investment banking units

The bank had posted net income of 1.31 billion Swiss francs for the first quarter of the year. At the time, it had set aside 568 million Swiss francs to deal with potential loan losses.A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerlandposted Thursday a 24% increase in net income and made additional provisions amid a "challenging economic environment."

"The measures we outline today are the right ones to further strengthen our integrated model, being a global leader in wealth management with strong global investment banking capabilities," Thomas Gottstein, the chief executive officer, said in a statement.

The irony -- that this makes too much sense!

In the Fed you can trust

The irony that this makes too much sense.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Blue Cash Preferred vs. Blue Cash Everyday: credit card comparison - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »