Credit Suisse beats forecasts, targets 2013 cash payout

Credit Suisse’s quarterly earnings beat analysts’ expectations and the bank flagged a cash dividend for this year, as the restructuring of its investment banking division starts to bear fruit.

Switzerland’s second-largest bank reported first-quarter net profit of 1.303 billion Swiss francs (HK$10.78 billion), up from 44 million francs (HK$363.86 million) a year earlier. The result beat the average estimate of 1.255 billion francs in a Reuters poll Of analysts.

via Business feed http://www.scmp.com/business/banking-finance/article/1222165/credit-suisse-beats-forecasts-targets-2013-cash-payout