Credit Suisse Confident About Outlook For 2010 (CS, GS, DB)
February 11, 2010 8:48 AM
Credit Suisse Group AG (ADR) (NYSE: CS) has reported results for Q4. The bank posted a profit for the fourth straight quarter. Credit Suisse has had a strong start to 2010, and remains bullish about the outlook for the remaining year.
“We are confident about our prospects for 2010,” Brady Dougan, Chief Executive Officer of Credit Suisse, said in a statement today. “We have had a strong start to the quarter with strong client activity. Our transaction pipelines and net new asset inflows are the best we have seen since the crisis.”
Credit Suisse stock rose 3.1 % on the Swiss bourse on back of better earnings due to lower interest rates, which had similarly raised earnings at Goldman Sachs Group, Inc. (NYSE: GS), and Deutsche Bank AG (NYSE: DB). Credit Suisse reported a net income of 793 million Swiss francs in Q4 as compared to a loss of 6.02 billion francs one year ago.
