Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Friday, October 24, 2014  

Credit Suisse net profit drops 24% in 2012 to $1.5b
ZURICH Swiss banking giant Credit Suisse said on Thursday its net profit fell 24 percent last year to 1.4 billion Swiss francs (1.2 billion euros, $1.5 billion) despite its investment bank unit rebounding into profit.

The result was below the 1.7 billion francs pencilled in by analysts surveyed by the Swiss financial news agency AWP.

In the final quarter of 2012, however, the bank posted a net profit of 397 million francs, compared to a loss of 637 million francs in the same period the previous year.

The private banking and wealth management division posted an operating profit of 3.7 billion francs for 2012, up from 2.9 billion the previous year.

The investment bank unit, which posted a loss of 593 billion francs in 2011, rebounded in 2012 with an operating profit of 2.0 billion francs.

“2012 was a year of transition,” said chief executive Brady Dougan in a statement.  

“We took significant steps to adapt our businesses and our organisation to new regulatory requirements, changing client demands and the current market environment,” he added.

These measures should lead to an improvement in 2013, he said.

The bank’s board recommended keeping the annual dividend unchanged at 0.75 francs per share.

Agencies
NEWS UPDATES
Oman
Meeting recommends GCC centre for water treatment
Documentary on Oman screened in Paris
Oxy Oman signs deal to back SMEs
70 projects vie for HM e-governance award
Other Top Stories
US strikes hit militia in Kobani, Mosul dam
Canada House locked down, intruder shot dead
Sultanate, Abu Dhabi ink deal for first wind energy plant
Rowhani opposes bill to empower Islamic vigilantes
2 die after Ebola test sparks riot in Sierra Leone
Middle East
Four Blackwater guards guilty of ’07 Iraq killings
Unrest-hit Tunisian city sees no peace in sight as clock ticks on poll
Settlers grab land through shady deals
S. Arabia sentences 13 over plot to attack US soldiers
Iran lawyer up in arms over practice ban
Business
MSM surges 120 points on global cues, better earnings
Middle East equity issuance rises 43%
Middle East equity issuance rises 43%
Oil could fall to $70 range in coming months: Moody’s
India may allow foreign firms in commercial coal mining
Wipro posts 8% rise in Q2 profit
Tainted firms feel heat of India ‘clean-up’ drive
DLF seeks relief from market ban
Beijing fears rate cut may fuel debt, property bubble
Japan hit by growing trade deficit
Total appoints new CEO after death of De Margerie
Apec to follow ‘flexible’ policies
Sports
Champions League throws up goal feast
Modest Guardiola says Bayern can do better
Ton-up Younis stands tall for Pakistan
Johnson not in Akram’s league yet, says Waqar
Utd job too big for Moyes: Alex
Scotland lifts Ghala Valley Open crown
Almouj gear up for NBO Golf Classic
Oman Sail triumph in Sailing Champions League
Oman Sail triumph in Sailing Champions League
AIBA suspends boxer Sarita and coaches

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution