Credit Suisse Reports Profit Amid Political Uncertainty
Credit Suisse Group AG posted a surprise profit in the third quarter, with all main units contributing, as Chief Executive Officer Tidjane Thiam continued to cut costs and eliminate jobs. Net income fell to 41 million Swiss francs ($42 million) from 779 million francs a year earlier, the Zurich-based bank said in a statement on Thursday. Analysts had forecast a loss of 150 million francs, according to the median of seven estimates in a Bloomberg survey. Thiam discusses business with Bloomberg's Francine Lacqua.