For the final quarter of the year, the Swiss bank posted a net income of 852 million Swiss francs. Analysts had estimated a net income of 838.5 million Swiss francs for the fourth quarter and of 3.2 billion Swiss francs for the year.
The Swiss bank surprised investors last week when announcing that CEO Tidjane Thiam is leaving the top position, effective from Friday.A former Credit Suisse executive, Iqbal Khan, was followed by private contractors in a bid to establish whether he was poaching colleagues and clients to join him atAn internal investigation by law firm Homburger said there was "zero evidence" that Thiam had been involved in the surveillance scheme.
Reports suggest there's a power struggle between the bank's chairman, Urs Rohner, and Thiam. Whereas shareholders seem to have supported the work of Thiam as CEO, Credit Suisse's board voted unanimously to keep Rohner. Speaking to CNBC last week, Vontobel Senior Analyst Andreas Venditti said the announcement would likely help to "calm things down" but went "totally against" the "very explicit support statements" from shareholders.shares are up by 12% over the past year.
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