Swiss bank Credit Suisse Group informed Thursday that it pocketed net profit of 2.35 billion Swiss francs (equivalent to $2.38 billion) in the third quarter ended September 30 against a loss of
1.26 billion francs last year.

Strong returns on financial market trading and investment banking helped the company beat analysts’ prediction of net profit of 1.72 billion francs for the 3Q.

Credit Suisse said its net revenues for the third quarter were 8.92 billion francs as compared with 3.02 billion francs in the same period of last year.

The bank recorded a Tier 1 ratio of 16.4 per cent in the concerned period.

The Zurich-based bank said it attracted total new assets of 16.7 billion francs during the period.

Speaking on the issue, bank’s CEO Brady Dougan said, “If markets remain constructive, we expect to be able to maintain our momentum.”

Brady Dougan further added that Credit Suisse has pick up the pace since the implementation of its client-focused business model that lessens risk.