Credit Suisse in Asia has more than 200 billion Swiss francs in assets under management, the first time the Swiss bank broke through that barrier. Still, times have looked rosier.
Pretax profit in the Asia Pacific region was 266 million Swiss francs ($269 million) in the second quarter, up 34 percent from the 199 million in the same period of 2017, Switzerland’s second-largest bank said in a statement on Tuesday.
The private bankers increased assets under management to 205.6 billion francs by the end of the second quarter, an increase of 6.5 billion from the end of the first quarter. Net new assets amounted to 3.4 billion.
Credit Suisse called its result in the important growth region «solid», in recognition of the challenging conditions: «Particularly in China, which saw lower equity markets and selective deleveraging by clients.»
more to come.
