Falling debt revenue hits Credit Suisse

Swiss bank's profits undermined by damage done to debt trading revenues by strong Swiss franc

Wednesday 27 April 2011 at 14:17

Credit Suisse said on Wednesday that first quarter net profits slid 45%, as revenue from debt trading fell and earnings were hurt by the Swiss franc's strength against the euro and dollar.

The Zurich-based bank said net profit for the three months dropped to Sfr 1.14bn ($1.3bn), from Sfr 2.06bn a year earlier.