Credit Suisse banks on wealth management growth as profit doubles

By Brenna Hughes NeghaiwiZURICH (Reuters) - Credit Suisse more than doubled net profit in the second quarter as it grew its wealth management business, despite the weakness which has hit private banking rivals and as it reaped gains from the last stage of a three-year overhaul.

Global geopolitical uncertainty has dragged on wealth managers as rich clients shy away from potentially risky investments, but Credit Suisse was confident it can deliver gains in its main business line this year."The growth potential of our Wealth Management-related businesses.....

This article is no longer available in our repository.

There could be multiple reasons for this.