CREDIT SUISSE is more than half way to hitting its capital target announced last month, the bank said yesterday.
The capital boost is aimed at calming regulators and markets who had feared it was under-capitalised.
Of the SFr930m (£608m) announced yesterday, roughly SFr550m came from swapping future bonus payments from cash and into shares.
Although this was less than the SFr750m expected, as fewer staff than forecast took part in the swap, moves to repurchase outstanding securities raised more than expected, allowing the bank to beat its SFr800m target.
Combined with the SFr8.7bn already raised, that puts Credit Suisse on track to raise SFr15.3bn by the end of the year.
However other areas of the banking industry are still struggling under slow market conditions.
Mergermarket data yesterday showed merger and acquisition activity slumped again in the first two quarters of this year.
The EMEA region saw 2,307 deals worth €267bn (£209.7bn) – an 18 per cent fall on the year by volume and a 10 per cent fall by value.