April 24, 2019 / 5:34 AM / 3 months ago

Credit Suisse posts unexpected Q1 earnings rise

ZURICH, April 24 (Reuters) - Credit Suisse on Wednesday posted a 749 million Swiss franc ($734 million) net profit for the first quarter of 2019, as larger-than-expected wealth management gains offset investment banking declines.

Analysts polled by Infront Data had expected Switzerland's second-biggest bank to bring in 692 million francs on the bottom line. A pre-tax profit rise to 1.06 billion francs from 1.05 billion a year ago beat expectations for a 5.9 percent fall.

The bank confirmed its full-year guidance and said it was cautiously optimistic about the second quarter following a challenging start to the year.

"In a challenging quarter, which was the first after the end of our three-year restructuring, we achieved our fifth consecutive quarter of positive income," Chief Executive Tidjane Thiam said in a statement.

$1 = 1.0199 Swiss francs Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields

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