Credit Suisse Reports Net Income of CHF 253 Million in Q2 2021

​Credit Suisse, a Switzerland-based investment bank, has published its financial results for the second quarter of 2021 ended on the 30th of June, revealing an uptick in net income compared to last quarter.

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During the quarter, the company reported a net Income of CHF 253 million. When measuring this against the previous quarter, where net loss was CHF 252 million, second-quarter net income has significantly increased. However, against the same period of the previous year, net income dropped by 78% in the second quarter.

Net revenues attributable to Credit Suisse for the period came in at CHF 5.103 billion, which is lower than the net revenues of CHF 7.574 billion achieved in the first quarter of 2021. Compared to the same period in 2020, net revenues experienced a 18% decline in the quarter.

Further, Credit Suisse posts CET1 ratio of 13.7% and pre-tax income of CHF 813 million in 2Q21, which is higher than the CHF 757 million pre-tax loss achieved in last quarter and lower than CHF 1.551 Billion achieved in 2Q20.

“Over the coming months, we will continue to develop our long-term vision for the bank that will serve as our compass for the years ahead. Our objectives are clear: whilst we aim to further strengthen our risk culture, we remain committed to serving all our private, corporate and institutional clients with best-in-class service and advice and to creating value for our shareholders,”said Thomas Gottstein, Chief Executive Officer of Credit Suisse Group AG.