Credit Suisse Shares Drop Even As Company Reports Massive Profit In A Turbulent Year

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The shares of Credit Suisse Group AG (NYSE: CS) dropped in early trade in Switzerland on Thursday, even as the company surprised with a significant annual profit for the financial year 2019.

What Happened

Credit Suisse reported a net profit of $3.5 billion, up 69% from the $2 billion net profit reported in the financial year 2018.

The company reported diluted earnings per share of $1.35, up 71.4% year-on-year compared to 2018's EPS of $0.79.

The bank reported a return on tangible equity of 9%. It had reported a RoTE of 5% in 2018 and strives for around 10% in 2020.

The average …

Full story available on Benzinga.com

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