Credit Suisse CEO Cautions on Outlook After Trading Beat
- Citi analysts say results mixed as one-off sale boosts profits
- Bank’s reputation was dented by spying operation on Iqbal Khan
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Credit Suisse Group AG gave a more downbeat outlook after trading income surged, saying the U.S.-China trade dispute will lead to more cautious spending and investment decisions.
The Zurich-based bank also highlighted Brexit as an ongoing geopolitical challenge likely to affect client sentiment this year. It struck a cautious note after third quarter results that beat analysts estimates for both revenue and net income, led by gains at its global markets business -- once a perennial source of concern for Chief Executive Officer Tidjane Thiam.