Credit Suisse targets 50% payout plan as turnaround quickens

Zurich

CREDIT Suisse Group AG plans to return half its net income to shareholders through buybacks or special dividends as it seeks to reward investors who stumped up capital to bolster the bank's finances.

The lender confirmed its 2018 profit targets for key divisions including the Swiss Universal Bank, International Wealth Management and Investment Banking & Capital Markets and Global Markets businesses, it said in an emailed release ahead of its investor day in London. It stopped short of confirming a target at its Asia Pacific unit after losses at its markets unit.