Credit Suisse 2Q Profit Rises

Credit Suisse Group AG (CS) said Friday that its second-quarter profit rose from a year earlier, as revenues increased slightly.

Credit Suisse posted net income of CHF303 million Swiss francs ($314 million) during the second quarter, compared with a year-earlier profit of 170 million francs. Analysts had forecast net income of 268 million francs. Revenue rose from CHF5.1 billion to CHF5.2 billion, in line with expectations.

"We are now midway through the execution of our three-year strategic plan and our strategy is working: we are making good progress against our key objectives," Credit Suisse Chief Executive Tidjane Thiam said in a statement.

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(END) Dow Jones Newswires

July 28, 2017 01:17 ET (05:17 GMT)