Credit Suisse suffered a decline in both revenue and trading at its investment bank in the third quarter, it revealed Thursday.
The falls prompted the Swiss bank to announce plans to reduce its interest rate trading, saying it was "restructuring and simplifying its rates business in order to increase returns".
Group revenue slipped just over 1%, dragged by an almost 20% plunge in investment banking income, hit by client caution and a drop in third quarter fixed income trading.
Profit came in below analyst expectations (of 724m francs) at 454m francs.
Source: LiveCharts
The falls prompted the Swiss bank to announce plans to reduce its interest rate trading, saying it was "restructuring and simplifying its rates business in order to increase returns".
Group revenue slipped just over 1%, dragged by an almost 20% plunge in investment banking income, hit by client caution and a drop in third quarter fixed income trading.
Profit came in below analyst expectations (of 724m francs) at 454m francs.
Source: LiveCharts
