A Credit Suisse logo in the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Thursday, April 8, 2021.

Stefan Wermuth | Bloomberg | Getty Images

Credit Suisse has beaten analyst estimates for the third quarter, getting a boost from its wealth management division, the bank said on Thursday.

Net income attributable to shareholders came in at 434 million Swiss Francs ($476 million) for the third quarter. Analysts had estimated a net income of 333.8 million Swiss francs for the period, according to data from Refinitiv.

“Wealth Management businesses returned to robust net new assets and higher transaction revenues sequentially, while recurring commissions & fees and client business volumes demonstrated strong year on year momentum,” the bank said in its earnings release.

Shares of the Swiss bank are down 12% year-to-date.

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