ZURICH (Reuters) - Challenging market conditions could be set to improve, Credit Suisse Chief Executive Tidjane Thiam said on Wednesday.
"We are protecting returns during volatile markets to provide significant upside when conditions improve and there's good reason to believe that they are improving," Thiam said in a presentation for the Swiss bank's investor day.
Earlier, Credit Suisse pledged to cut another 1 billion Swiss francs ($991.5 million) in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money.
($1 = 1.0086 Swiss francs)
(Reporting by Joshua Franklin)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app