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lakeelmoleader.com February 17, 2018


Credit Suisse Is Finally Finding Its Sweet Spot

15 February 2018, 07:03 | Frank Carlson

Credit Suisse boss defends bank's role in collapsed trading product

Tidjane Thiam 6

Credit Suisse rose as much as 4.2 percent and traded 3.4 percent up at 1:38 p.m.in Zurich, leading the Bloomberg Europe 500 Banks and Financial Services Index higher. Credit Suisse shut down the product because there is no prospect of price recovery and will compensate investors on February 21.

"The most pleasing thing for me has been to see that our franchise is intact and actually vibrant", Thiam said in an interview with Francine Lacqua on Bloomberg Television. "In 2018, we will remain focused on disciplined execution and on delivering value for our clients and shareholders for the final year of our restructuring plan".

Credit Suisse posted its third straight yearly loss on Wednesday, underscoring expenses in the fourth quarter of 2017 due to the overhaul of the US tax system, but the bank said its restructuring efforts are working.

Revenue is Asia's markets unit - trading - surged 15 percent in the first six weeks of this year, while income in its overall markets arm climbed by 10 percent, the bank said. "It's still a cheap stock", he said.

Yep, this flu season continues to be bad
In some parts of the state, hospitals set up triage tents outside emergency rooms just for patients with flu symptoms. Schuchat offered a warning to anyone who gets the flu, then feels better, then suddenly starts to feel much worse.

The Board of Directors of Credit Suisse Group AG is proposing Michael Klein and Ana Paula Pessoa for election as new non-executive members of the Board of Directors at the Annual General Meeting on April 27, 2018.

The bank's private banking arm took in 37.2 billion francs in fresh money from clients - a key indicator of future revenue. Thiam said that there will be further cost cuts in the business this year but that the main target would be to increase productivity.

Credit Suisse reported a net loss for the fourth quarter of 2.13 billion francs because of changes to the USA tax code. The bank posted a loss of 2.1 billion Swiss francs in its fourth quarter due to the writedown, better than the 2.6 billion franc loss reported this time a year ago.

And, while revenues grew, Credit Suisse also reduced costs by 6% between 2017 and 2016.



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