February 13, 2020 / 6:16 AM / 14 days ago

Credit Suisse posts 69% annual net profit rise

ZURICH, Feb 13 (Reuters) - Credit Suisse posted a 69% rise in annual net profit on Thursday in a bittersweet swan song for outgoing Chief Executive Tidjane Thiam.

Thiam quit after a spying scandal at the bank sparked a boardroom revolt and will leave formally on Friday. He will be replaced by company veteran Thomas Gottstein.

Gottstein said the group remained committed to its strategy and previously announced targets.

Net income rose to 3.419 billion Swiss francs ($3.50 billion) for the year. Analysts had on average expected Credit Suisse to generate 3.5 billion francs according to a consensus of 13 analysts compiled by the bank. ($1 = 0.9773 Swiss francs) (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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