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Credit Suisse Profit Falls 34% in First Quarter

“LONDON – Credit Suisse said on Wednesday that profit fell 34 percent in the first quarter as the Swiss bank shed assets and streamlined its investment banking operations as part of an overhaul of its business.”

“For the first three months of the year, Credit Suisse reported earnings of 859 million Swiss francs, or about $976 million. That compares with profit of 1.3 billion francs in the same period a year earlier.”