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Credit Suisse says introducing measures to deal with strong franc

Published 12/02/2015, 05:52
Updated 12/02/2015, 06:00
© Reuters. National flags of Switzerland fly over the entrance of the headquarters of Swiss bank Credit Suisse in Zurich
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ZURICH (Reuters) - Swiss bank Credit Suisse (VX:CSGN) said on Thursday it is introducing a number of measures to deal with the strong Swiss franc, as fourth-quarter net profit beat analysts' estimates.

"Based on 2014 earnings, we estimate the net adverse impact on our profit to be approximately 3 percent and expect to more than offset this impact through the announced measures by end-2017," Chief Executive Brady Dougan said in a statement.

© Reuters. National flags of Switzerland fly over the entrance of the headquarters of Swiss bank Credit Suisse in Zurich

Zurich-based Credit Suisse said net profit for the last three months of 2014 was 921 million Swiss francs (£651 million), far exceeding expectations of 663 million francs in a Reuters poll of analysts.

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