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Back to the black for Credit Suisse

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Back to the black for Credit Suisse

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Switzerland’s second biggest bank has swung back into profit in the first quarter of the year, and by a much bigger margin than expected. Credit Suisse posted a net profit equal to 1.3 billion euros – double the analysts’ forecasts.

The strength came from its investment bank, and follows a loss of around the same amount in last year’s first quarter. The figures have helped spark optimism in the banking industry overall.