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Credit Suisse Asks for One More Year as Thiam Touts Returns

  • Bank to boost returns via share buybacks or special dividends
  • Warns continued low volatility impacting markets businesses
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Bloomberg’s Jan-Henrik Foerster discusses Credit Suisse’s profitability strategy.Source: Bloomberg
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Six months ago, Tidjane Thiam was still asking Credit Suisse Group AG shareholders to pitch in billions of francs to strengthen the bank’s capital buffers. Now he’s talking about returning cash.

The lender on Thursday outlined plans to return half of its profit, mainly through buybacks or special dividends, once it strengthens capital generation in 2019 and 2020. In a reminder that the path there may continue to be bumpy, Credit Suisse abandoned a profit target for its Asia-Pacific unit and warned that market conditions for its trading operations remain difficult in the final months of this year.