Credit Suisse’s Asia-Pacific business reported a pretax profit of 206 million francs, down from 367 million francs. The profit of its universal bank in Switzerland dipped to 453 million francs from 468 million francs. The bank’s international wealth management business reported a 10 percent decline in pretax profit, to 245 million francs from 272 million francs. That compared with a profit of 1.05 billion francs in the second quarter of 2015. Revenue dropped 27 percent to 5.11 billion francs in the second quarter, from 6.96 billion francs in the same period a year earlier.

Source: International New York Times July 28, 2016 07:55 UTC