Credit Suisse: New CEO hints at capital raising

Tidjane Thiam

Tidjane Thiam, the new chief executive of Switzerland's second-biggest bank, said it "may need" fresh capital to help address issues.

Credit Suisse, Switzerland's second-biggest bank, reported better-than-expected profits for the second quarter on Thursday, ahead of a major shake-up.

The Zurich-based bank reported net income for the three months to June 30 of 1.1 billion Swiss francs ($1.15 billion), compared to a 700 million franc loss over the same period last year after settling with the U.S. over tax evasion allegations.

Analysts polled by Reuters had expected Credit Suisse to post profit of 783 million francs. Read More What change at the top means for Europe's banks The bank reaffirmed its targets for the full year.

Tidjane Thiam, its new chief executive who has just joined from U.K. insurer Prudential, is expected to announce more details of his new strategy for the bank by the end of the year.

This strategy could include bolstering its asset management business through acquisition, according to a report in the Financial Times Thursday. 

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