Credit Suisse, the famous Swiss bank, announced 434 million Swiss francs ($476 million) net income attributable to shareholders during the third quarter of 2021.
The bank's quarterly profit exceeded analysts' estimates, which were hovering around 333.8 million Swiss francs, according to Refinitiv data.
Profits, however, were 20% lower than the previous year, as they were hit by indictments related to corruption allegations in Mozambique and other legal cases.
The bank said income was impacted by the main litigation fees of 564 million Swiss francs, including 214 million Swiss francs related to its settlement of the Mozambique issue and the litigation rulings on Relates to some inheritance issues.
An investigation by the bank said it had failed to manage risk effectively when dealing with the collapsed US hedge fund (Archigos), but without any fraudulent or illegal behaviour. .
