Cost-cutting gives Credit Suisse a huge Q1 lift

Associated Press
Cost-cutting gives Credit Suisse a huge Q1 lift

FILE - In this Oct. 31, 2011 file photo a man passes a branch of the bank Credit Suisse in Zurich, Switzerland. Swiss bank Credit Suisse Group reported Wednesday, April 24, 2013, a huge jump in first-quarter profits compared with a year earlier, when it booked significant charges to its own debt. Switzerland's second-biggest bank posted a profit of 1.3 billion Swiss francs (US dollar 1.37 billion), up sharply from the 44 million francs in the first quarter of 2012, when it booked a loss of 1.6 billion francs on its own outstanding debt and paid out higher bonuses. Net revenue rose 6 percent to 7.2 billion francs. (AP Photo/Keystone, Steffen Schmidt, File)

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