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Credit Suisse net profit declines by 24 percent in 2012 to US$1.5 billion

AFP
February 8, 2013, 4:57 pm TWN

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ZURICH -- Swiss banking giant Credit Suisse said Thursday its net profit fell 24 percent last year to 1.4 billion Swiss francs (US$1.5 billion) despite its investment bank unit rebounding into profit.

The result was below the 1.7 billion francs penciled in by analysts surveyed by the Swiss financial news agency AWP.

In the final quarter of 2012, however, the bank posted a net profit of 397 million francs, compared to a loss of 637 million francs in the same period the previous year.

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