Credit score Suisse Reviews $1.65 Billion Loss for Second Quarter

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Most of Credit score Suisse’s shortfall within the second quarter stemmed from the funding financial institution, which posted a web lack of $1.2 billion, pushed by slower issuance of bonds and loans for corporations and a decline in buying and selling income.

Deutsche Financial institution, by comparability, reported a revenue of 1.2 billion euros on Wednesday, or about $1.2 billion, which was nicely above analysts’ expectations and better than the roughly $830 million it earned a 12 months in the past. Switzerland’s UBS reported a revenue of $2.1 billion on Monday, additionally modestly larger than a 12 months in the past however wanting analyst expectations.

UBS’s funding banking revenues additionally suffered from a drastic decline in debt and fairness issuance, whereas it additionally famous a drop in exercise amongst non-public purchasers amid volatility in monetary markets.

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