Zurich/ AFP Credit Suisse, Switzerland’s second-biggest bank, said on Thursday it defied market expectations by posting a profit amid a vast cost cutting programme. Net earnings came in at 41 million Swiss francs (38 million euros, $42 million), a massive decline of 95 percent from the same quarter last year. But the bank still did better than analysts had ...

  Bloomberg After scaling back Australia & New Zealand Banking Group Ltd.’s Asian businesses, Chief Executive Officer Shayne Elliott is now turning his attention closer to home. The country’s third-biggest bank is exploring “a range” of possible options for its Australian wealth business, it said on Thursday as it announced its its lowest full-year earnings since 2011. That may include ...

  LAGOS / AP The African Development Bank (AfDB) is loaning Nigeria $600 million to help offset a budget deficit of $7 billion, a statement said. The bank said another $400 million would be approved next year if the government implements reforms to economize on government costs, combat corruption and promote diversification and competitiveness in Africa’s biggest economy. Nigeria is ...