Credit Suisse headquarters in Zurich's Paradeplatz, Copyright © 1997 - 2009 CREDIT SUISSE GROUP AG

Zurich, Switzerland (GenevaLunch) – Credit Suisse group has released figures that show that it earned CHF2.35 billion in the third quarter of 2009, an increase of 61 percent over the second quarter. The bank says its “low-risk” business model is vindicated by the surprisingly strong numbers. This is reflected in part by the net inflows of private client assets, which reached CHF13.1b, a growth of 5.4 percent on an annual basis. Revenues from Private Banking at CHF 723m were lower than in the second quarter, due in part to lower interest income.

Assets under management for the Group as a whole increased 4.3 percent in the period, responding to an improved market situation and the net new inflows.

Return on equity is 25.1 percent, and tier one capital, the safest bulwark against sudden adverse conditions, stands at 16.4 percent.

Background: “Credit Suisse net income of CHF1.6 billion in 2nd quarter“, 23 July 2009, GenevaLunch

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