Swiss bank Credit Suisse posted a 57 percent rise in first-quarter pre-tax income Wednesday, beating analyst expectations amid an ongoing restructuring plan.
Here are the key first-quarter metrics:
- Net income: 694 million Swiss francs ($707 million), vs. 654 million Swiss francs expected by a Thomson Reuters poll.
- Pre-tax income: 1.1 billion Swiss francs, vs. expected 1 billion Swiss Francs, according to Thomson Reuters.
Switzerland's second-largest bank reported Wednesday 1.1 billion Swiss francs ($1.1 billion) in first-quarter pre-tax income, underpinned by strong growth in its wealth management-related businesses.
Meanwhile, the bank's net profit attributable to shareholders came in at 694 million Swiss francs during the first three months of the year. That was a 16 percent rise when compared to the same period last year.
Credit Suisse's results marked the sixth consecutive quarter of year-on-year profit growth under the guidance of CEO Tidjane Thiam. It was also the highest quarterly adjusted pre-tax income for the last 11 quarters, the bank said.
"We are very pleased with these results, the core of our strategy is to grow the wealth management (business) and the bank has done that in the first quarter," Tidjane Thiam, chief executive of Credit Suisse, told CNBC's Geoff Cutmore on Wednesday.