CS Credit Suisse Group

   By Pietro Lombardi 
 

Credit Suisse Group AG (CSGN.EB) on Wednesday said it had a double-digit increase in net profit in the first quarter, beating analysts' expectations.

The Swiss bank said net profit grew roughly 16% to 694 million Swiss francs ($709.1 million).

Revenue stood at CHF5.64 billion compared with CHF5.53 billion in the same period last year.

Analysts had expected Credit Suisse to report net profit of CHF653 million on revenue of CHF5.49 billion, according to a forecast provided by the company based on estimates from 19 analysts.

"With these first-quarter results, we got off to a good start in our third and final year of restructuring," Chief Executive Tidjane Thiam said.

"We expect markets and a wide range of asset classes to be exposed to periods of heightened volatility," the bank said in a statement.

Credit Suisse said it expects its key Wealth Management and IBCM businesses to benefit from economic growth in both mature and developing markets.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

April 25, 2018 01:33 ET (05:33 GMT)

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