Credit Suisse beats Q1 profit forecasts but looks to raise CHF 4bln

Swiss banking entity Credit Suisse out with Q1 results and statement 26 April
– Q1 profits CHF 596m vs 336.1m exp
– will raise around CHF 4bln through a rights offering to catch up with European rivals on capital
Highest quarterly profit since restructuring by CEO Thiam but the rights offering may give some reason for concern albeit also prudent if they’re behind the capital shore-up curve.