Credit Suisse reports Q4 net income CHF292M
Reports Q4 adjusted pre-tax income of CHF 846M, 49% higher than the fourth quarter of 2017; reported pre-tax income of CHF 628M, a more than four-fold increase year on year. Net revenues for the quarter were CHF4.8B. Tidjane Thiam, CEO of Credit Suisse, commented: "We have achieved Group reported pre-tax income of CHF 3.4 billion, 90% higher than in 2017. Net income attributable to shareholders reached CHF 2.1 billion. This is our first annual post-tax profit since 2014 and it was only achieved thanks to the support of our clients, investors and other key stakeholders and the hard work of our teams... At a Group-wide level, we exceeded our targets for our CET1 and leverage ratios and our US intermediate holding company completed its first public CCAR stress test in 2018, with the Board of Governors of the Federal Reserve System not objecting to its 2018 capital plan. Given the uncertain macro-economic environment over the last three years, these achievements underscore both the balance and resilience of our new operating model."