. An internal investigation subsequently cleared CEO Tidjane Thiam of any wrongdoing.
The European banking sector is battling for profitability in an environment of long-term negative interest rates from the European Central Bank. Credit Suisse beat expectations to report a net income of 937 million Swiss francs in the second quarter of 2019, but Thiam told CNBC that low rates were harming the European economy in the long term.
Source: News Formal (newsformal.com)
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