Credit Suisse CHF 1.6 Billion Profit 2017

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Credit Suisse reported CHF 1.6 billion in pre-tax income for 1st half 2017 with total group profit of CHF 10.7 billion.

” Record AUM CHF 716 billion with NNA of CHF 22.8 billion in 1H 2017 “

Wealth Management grew as Credit Suisse achieved record AUM of CHF 716 billion, up 8% (YTD). Net New Asset was CHF 22.8 billion in 1st half 2017, up 12% (YOY). In Asia-Pacific, Wealth Management pre-tax income grew from CHF 234 (2016) billion to CHF 403 billion in 1st half 2017, an increase of 72%.

Source: Official Press Release

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About Credit Suisse

Credit Suisse (NYSE:CS) was founded in 1856 by Alfred Escher, under the name “Schweizerische Kreditanstalt.” The original purpose of the new bank known as SKA was to finance the expansion of the railroad network as well as the further industrialization of Switzerland. Fourteen years later, the bank’s first foreign representative office opened up in New York. In 1905, the bank’s first branch outside Zurich opened in Basel following the acquisition of Oberrheinische Bank. Today, it has a global reach with operations in over 50 countries and 48,200 employees from over 150 different nations. It serves its clients through three regionally focused divisions: Swiss Universal Bank, International Wealth Management and Asia Pacific. These regional businesses are supported by two other divisions specializing in investment banking capabilities: Global Markets and Investment Banking & Capital Markets.