ZURICH, Nov 2 (Reuters) - Credit Suisse on Thursday reported 244 million Swiss francs ($244.2 million) in third-quarter net income, the first time Switzerland’s second-biggest bank has posted three consecutive profitable quarters under Chief Executive Tidjane Thiam.
The results come amid calls from activist investor RBR Capital Advisors, a boutique Swiss hedge fund, to split up Credit Suisse into three parts.
Net income attributable to shareholders for the three months to end-September was up 495 percent year on year but was slighly behind the median forecast in a Reuters poll of six analysts for 264 million francs. Credit Suisse’s own consensus report forecast net profit of 184 million francs.
Credit Suisse’s common equity tier 1 capital ratio, an important measure of balance sheet strength which Thiam has looked to improve in the past two years, dipped to 13.2 percent from 13.3 percent in the second quarter.
$1 = 0.9992 Swiss francs Reporting by Joshua Franklin