The sharp rise in profit rise was largely because the Swiss bank had booked a CHF1.5 billion charge on its own debt in the year-ago quarter.
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Underlying net income attributable to shareholders increased to CHF1.462 billion from CHF1.055 billion in the year ago period.
Net revenues for the quarter increased to CHF7.188 billion from last year’s CHF6.047 billion.
Credit Suisse’s Private Banking & Wealth Management unit reported pre-tax income of CHF 881 million and net revenues of CHF3.303 billion in first quarter of 2013. Net revenues were 5% lower compared to the year ago quarter, driven by lower other revenues and lower net interest income.
Investment Banking arm reported net revenues of CHF3.945 billion and pre-tax income of CHF1.3 billion in the first quarter of 2013. Net revenues were stable compared to the year ago quarter.
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By GlobalDataCommenting on the results, Credit Suisse chief executive Brady Dougan, said: "We are on track to exceed our look-through Swiss core capital ratio target of 10% during the middle of this year and have begun to accrue for cash dividends in respect of our 2013 earnings."
