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Credit Suisse Q2 earnings: Bank posts a 24% jump in net profits - Business Insider

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Credit Suisse posts a 24% jump in second-quarter net profits and shakes up its investment-banking division

on Thursday a 24% jump in second quarter net profits despite COVID-19 market volatility and "continued geopolitical difficulties."

On strong trading performance, the bank's net revenues jumped 11% to CHF 6.2 billion for the second quarter. Credit Suisse set aside CHF 296 million as a provision to cover bad loans related to the coronavirus crisis in the second quarter, in addition to the CHF 913 million announced in April. Profit attributable to shareholders:CHF 6.2 billion versus a 5.6 billionCHF estimate.As part of the earnings release, the bank's new chief executive Thomas Gottstein announced structural changes.

 

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