Credit Suisse Group said it plans to start buying back shares and raise its dividend, as investment activity by wealthy clients helped buoy its third-quarter earnings.

The Swiss lender said it expects to return up to 1.5 billion Swiss francs, equivalent to $1.6bn, to shareholders through buybacks from the first quarter of 2021 after the Swiss financial regulator raised no objection. The bank is also targeting a dividend for 2020 at a 5% higher rate than last year and is setting aside capital now, it said.