Credit Suisse sees earnings jump

CREDIT Suisse has posted a first quarter net profit of CHF 2.1bn (£1.3bn).

The Swiss bank has seen a turnaround since the global financial crisis, boosted by its high number of wealthy clients.

Chief executive Brady Dougan said in a statement: "Market conditions in the second quarter to date have remained similar to those in the first quarter and we are confident that our business model will enable us to continue to generate high-quality results in good as well as in more challenging market conditions.”

Revenues grew to CHF 9bn in the first three months of the year as Switzerland’s second largest bank behind UBS attracted new clients.