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Credit Suisse is bucking the trend global banking’s slump — reporting surging profits in the second quarter

July 31, 2019

Credit Suisse has bucked the global banking trend of decline in its second-quarter earnings report, announcing an 8% rise in global markets revenue and fixed income sales and trading up 11%.

The Swiss bank’s headline figure was a 45% surge in profits in the period, striking a contrast to other European and Wall Street banks that have disappointed in sales and trading revenues.

Deutsche Bank reported widescale losses due to the overhaul of its business, while Citigroup’s equities trading revenue fell below expectations and JPMorgan dropped 12% in the same category.

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