Equity underwriting and mergers and acquisitions advisory work have produced a dramatic turnaround in third-quarter investment banking profits at Credit Suisse First Boston, turning a Sfr408m (€264m) loss last year into profits of Sfr612m.
The investment banking business, which includes debt underwriting, equity underwriting and mergers and acquisitions advice, saw revenues rise 30% to Sfr1.1bn in the three months to September 30.
