Credit Suisse misses analyst expectations with a 38% fall in net profit

Credit suisse

(CNBC/Fabrice Concrini) – Credit Suisse on Thursday posted a 38% slide in net profit for the third quarter, as the coronavirus pandemic and “significant foreign exchange headwinds” weigh on the bank’s earnings.

Net income attributable to shareholders came in at 546 million Swiss francs ($600 million), significantly below the 679 million Swiss francs that analysts had expected, according to Reuters Eikon.

It marks a 38% slide from net income in the third quarter of last year. In the second three months of 2020, net income was 1.16 billion Swiss francs.