Oct 23 Bulgaria 2 Report from London Nejra Cehic

Credit Suisse's profit more than doubled in the third quarter, driven by a rise in fixed income trading. However, its private banking and wealth management division saw a decline. Unlike UBS, which focuses on managing money for the wealthy, Credit Suisse plans to balance capital allocation between its investment bank and wealth management. The bank aims to expand its wealth management unit through acquisitions and organic growth while reducing its investment bank. Analysts have urged Credit Suisse to focus more on wealth management to boost returns and capital. The bank lags behind competitors after being fined for tax evasion.

What factors contributed to the increase in profit for Credit Suisse in the third quarter?

How does Credit Suisse's reliance on its investment bank compare to UBS?

What are Credit Suisse's plans for its wealth management unit?

What strategies are analysts suggesting Credit Suisse should adopt to improve returns?

What challenges has Credit Suisse faced that have affected its performance?