Credit Suisse: Strong Swiss franc and negative interest rates will hit profits until 2017

Alberto Venzago

Credit Suisse said in its full year results profits would be hit by 3%, thanks to the appreciation of the Swiss franc and low interest rates. But group profits for the quarter, at Sfr1.18bn, were a huge improvement on the Sfr529m loss made in the same quarter last year, as the investment bank remained profitable, sucking up losses incurred by non-strategic businesses.