Credit Suisse: Q2 2016 positive

Credit Suisse has achieved in the second quarter net profit of 170 million francs, after 302 million loss incurred in the first three months of the year. The institute, as the CEO Tidjane Thiam announced, has been able to "improve their performance and to operate profitably in a volatile environment." The result is higher than analysts' expectations.

Profit before tax amounted to 199 million, while operating income amounted to 5.11 billion, up by 10% in comparison with the previous quarter, but down by more than 25% over the corresponding quarter of 2015 . operating costs have been reduced to 4.93 billion.

For the second half of the year, Credit Suisse remains cautious because of strong geopolitical tensions and the major macro-economic problems, aggravated by referendum on Brexit.

Tidjane Thiam, in office for a year, launched last October a wide restructuring of the bank, drawing much criticism. On the stock exchange the course of Credit Suisse fell in early July under the threshold of 10 francs, the lowest level since 1989, before recovering slightly. Credit Suisse in the second quarter of last year had generated a profit of 1.05 billion francs.