This excerpt taken from the CS 6-K filed Nov 1, 2007.
Record net income of CHF 7.2 billion for the first nine months of 2007.
Zurich, November 1, 2007 Credit Suisse Group today reported income from continuing operations and net income of CHF 1,302 million for the third quarter of 2007, reflecting lower results in Investment Banking and Asset Management. Private Banking remained strong, with significant increases in both income from continuing operations before taxes and net revenues compared to the third quarter of last year.
Brady W. Dougan, Chief Executive Officer of Credit Suisse Group, said: The extreme market conditions that characterized the third quarter affected many of our businesses. However, our global diversification and balanced business mix helped us mitigate the impact on our overall performance, maintain solid profitability and deliver a record result for the first nine months of the year.
Commenting on the operating environment, Mr. Dougan continued: We are seeing encouraging signs that activity in the credit markets is increasing, although it is too early to predict when all of the affected markets will return to more normal levels. The events of the third quarter have reaffirmed the importance of our integrated global model in driving revenues and enhancing efficiency throughout the entire market cycle.