Credit Suisse chief executive Tidjane Thiam has hailed a “good start” to the final year of the restructuring he is overseeing at the bank, which he said will see an “acceleration” in the group’s performance.

The bank announced results for the three months to March 31 on Wednesday, reporting pre-tax profits of CHF1.1bn ($1.2bn), up 57% on a year earlier, on revenues that nudged up at CHF5.6bn and falling expenses. This pre-tax profit was the highest in 11 quarters, the bank said.