Credit Suisse reported a first-quarter net profit of SFr2bn, doubling what was expected by analysts’ consensus and a reversal of a SFr2.1bn loss a year ago. It further reported a return on equity of 22.6% and an improved Tier 1 capital ratio of 14.1%.

“We remain optimistic about the prospects for Credit Suisse, particularly in the context of the overall industry,” chief executive Brady Dougan said. “While we may still be affected by continued volatility and market disruptions if difficult conditions persist, we believe that we are in a position to weather the storms and perform well when market opportunities arise.

• Credit Suisse Q1 statement