ZURICH, Switzerland (
said second-quarter net income rose 1% to 1.6 billion Swiss francs ($1.53 billion), while net revenue declined 2% to 8.4 billion francs.
The Swiss bank said its Tier 1 ratio at the end of the quarter was 16.3%.
"This was a resilient performance during a difficult second quarter for the banking sector," said Brady Dougan, Credit Suisse CEO, in a statement. "The continued strong flow of net new assets we achieved in private banking and our market share momentum, particularly in investment banking and in our Swiss institutional business, reflect the strength of our franchise."
Credit Suisse's investment banking was less than half what it was a year ago, shrinking to 784 million francs, impacted by volatile market conditions and lower fixed income sales and trading results.
Private banking fell 7% 874 million francs, while profits at the bank's wealth management unit fell 17% percent to 633 million francs.
Credit Suisse posted 13.8 billion francs in new customer deposits during the April-June period; new customer deposits were 26 billion francs a year ago.
Credit Suisse rival
report results next week.
-- Reported by Joseph Woelfel in New York.
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