Credit Suisse warns over coronavirus uncertainties after first-quarter earnings beat

) 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.

Credit Suisse saw net profit rise to 1.314 billion Swiss francs , helped by a negative tax rate and one-off gains, and as a boost to trading revenue from volatile markets and “exceptionally high levels of client activity” in some areas helped cushion a rout in deal-making. U.S. banks have already set aside billions of dollars to cover potential loan defaults due to the virus and other European lenders are expected to do likewise when they start reporting results over the next two weeks.

The bank’s capital ratio fell to 12.1% from 12.7% over the quarter, driven in part by companies drawing down from their credit facilities. International Wealth Management, its only standalone wealth division, meanwhile, benefited from higher levels of client activity, with revenue up 6% to 1.5 billion francs.

'Bend over. Here it comes!'

romulusmaya

“ The first major European lender to report earnings since the coronavirus pandemic “

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

How to check your credit report for free every week during coronavirus - Business InsiderExperian, Equifax, and Transunion will allow Americans access to their credit report once per week for a year, increasing from three times per year. OilPrices have fallen to $0 per barrel demand due to coronavirus related lockdown ...
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »

U.S. companies paying down maxed out credit lines with bond issues: BoA noteAn increasing number of U.S. companies are selling bonds to repay lines of credit they drew down at the height of the coronavirus-induced market turmoil, an indication that the cash crunch facing much of Corporate America may be easing, according to Bank of America analysts. That truly is the American way..
ソース: Reuters - 🏆 2. / 97 続きを読む »