Credit Suisse Reports Q2 Earnings Beat
Credit Suisse Reports Q2 Earnings Beat
Credit Suisse Group AG (NYSE:CS) announced its financial results for the year's second quarter on Thursday, amid a backdrop of structural change at the Swiss bank.
The bank posted a net income of $1.27 billion in the quarter, up 24% from the similar period a year ago. This is also a 38.2% increase over the $918.36 million net income analysts polled by Refinitiv had estimated, CNBC reported earlier.
Revenue increased to $6.8 billion, which compares with the $6.1 billion revenue posted in Q2 2019.
CET 1 ratio, a measure of the bank’s solvency, was at 12.5% in Q2 compared with 12.1% at the end of Q1.
“With an [Return on Tangible Equity] of 11.0% for the second quarter and 12.0% for the first six months 2020, we delivered on our pre-COVID-19 ambition to achieve an RoTE of approximately 10% for 2020," Credit Suisse CEO Thomas Gottstein said in a statement.
The bank also announced several structural changes such as the creation of a global investment bank, which merges the bank’s global markets and investment banking divisions, and a savings program of $438 million, due to come into force in 2022.
Price Action: Credit Suisse shares closed 1.04% higher at $10.65 on Wednesday.
Photo courtesy: Credit Suisse Group AG
Credit Suisse Group AG (NYSE:CS) announced its financial results for the year's second quarter on Thursday, amid a backdrop of structural change at the Swiss bank.
瑞士信貸集團(Credit Suisse Group AG)紐約證券交易所代碼:政務司司長)週四公佈了今年第二季度的財務業績,背景是這家瑞士銀行正在進行結構性改革。
The bank posted a net income of $1.27 billion in the quarter, up 24% from the similar period a year ago. This is also a 38.2% increase over the $918.36 million net income analysts polled by Refinitiv had estimated, CNBC reported earlier.
Revenue increased to $6.8 billion, which compares with the $6.1 billion revenue posted in Q2 2019.
收入增至68億美元,而2019年第二季度的收入為61億美元。
CET 1 ratio, a measure of the bank’s solvency, was at 12.5% in Q2 compared with 12.1% at the end of Q1.
衡量銀行償付能力的CET1比率在第二季度為12.5%,而第一季度末為12.1%。
“With an [Return on Tangible Equity] of 11.0% for the second quarter and 12.0% for the first six months 2020, we delivered on our pre-COVID-19 ambition to achieve an RoTE of approximately 10% for 2020," Credit Suisse CEO Thomas Gottstein said in a statement.
“用一個[有形權益回報率]瑞士信貸首席執行官托馬斯·戈特斯坦在一份聲明中表示:“我們實現了新冠肺炎時代之前的雄心壯志,即2020年實現約10%的淨資產收益率。”
The bank also announced several structural changes such as the creation of a global investment bank, which merges the bank’s global markets and investment banking divisions, and a savings program of $438 million, due to come into force in 2022.
該銀行還宣佈幾項結構性改革,如成立一家全球投資銀行,合併該行的全球市場和投資銀行部門,以及一項4.38億美元的儲蓄計劃,將於2022年生效。
Price Action: Credit Suisse shares closed 1.04% higher at $10.65 on Wednesday.
價格行動:瑞士信貸股價週三收高1.04%,報10.65美元。
Photo courtesy: Credit Suisse Group AG
圖片提供:瑞士信貸集團(Credit Suisse Group AG)
譯文內容由第三人軟體翻譯。
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