Credit Suisse Group AG Profits Beat Forecast; But Cautious Near-Term

Credit Suisse Group AG (ADR) (NYSE:CS) unveiled its third-quarter results Thursday, highlighting that its third-quarter profit beat analyst estimates in more than doubling to 1.025 billion Swiss francs.

At the end of the quarter, the core tier one capital ratio of Switzerland’s second-biggest bank stood at 9.8%.

Strong show by investment banking

Credit Suisse Group AG (ADR) (NYSE:CS)’s net profit for the July-September quarter was 1.025 billion Swiss Francs ($1.073 billion), against the average 810 million Swiss francs forecast by analysts in a Reuters pool. Its second quarter witnessed a steep loss after the banking group...