Swiss Banking News: April 2007

15.04.2007 The Swiss delegation attended an international economics meeting in Washington - Economics Minister Doris Leuthard and Finance Minister Hans-Rudolf Merz were some of the representatives of the country. The delegation has shared its concerns about progress in the finance markets, which is a key area for Switzerland. According to Merz and delegation member Roth, president of the Swiss National Bank, the IMF painted the positive picture of the world economy, which was good news for Switzerland. However, there were uncertainties related to increased capital movements and problems in the granting of credit. Roth said that Swiss economy is dependent on the financial markets at 15% of GDP, which makes it vulnerable.

10.04.2007 Credit Suisse Group has reported net income of CHF 11.3 billion for the full-year 2006, which is up 94% as compared to net income for 2005. Basic earnings per share from continuing operations were CHF 7.53 for 2006, while they were CHF 3.98 for 2005. Basic earnings per share were CHF 10.30 for 2006, while they were CHF 5.17 for 2005. The bank recorded net new assets of CHF 95.4 billion for 2006.