November 1, 2018 / 6:27 AM / 19 days ago

Credit Suisse Q3 profit jumps 74 pct, lags estimates

ZURICH, Nov 1 (Reuters) - Credit Suisse on Thursday posted a 74 percent year-on-year jump in third-quarter net profit as operating expenses fell faster than a 2 percent decline in net revenues.

Net income attributable to shareholders from July through September rose to 424 million Swiss francs ($421.55 million), missing the average estimate in a Reuters poll of analysts for 449 million francs.

“We expect our Wealth Management-related businesses – across Swiss Universal Bank, International Wealth Management and Asia Pacific WM&C – to continue to benefit from broad-based, client-led growth in the final quarter of the year,” the bank said in a statement.

$1 = 1.0058 Swiss francs Reporting by Michael Shields; Editing by John Revill

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