Credit Suisse posts Q3 profit drop ahead of strategy update

[ZURICH] Swiss bank Credit Suisse on Wednesday posted a bigger-than-expected drop in third-quarter net profit by 24 per cent.

Zurich-based Credit Suisse said net profit for the three months to end-September was 779 million Swiss francs (US$815.37 million), compared with a predicted 921 million francs in a Reuters poll.

The results covered the first three months of Tidjane Thiam's time as chief executive and come on the day the bank plans to give a strategy update to investors.

REUTERS