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Credit Suisse Posts Strong Profit on Gains in Wealth Management Business

Credit Suisse Group AG reported its highest annual profit in nine years as it seeks to move on from a spying scandal that led to the resignation of its chief executive last week, with gains in its wealth management and markets businesses offsetting a decline in corporate advisory revenue.

The bank said net profit more than doubled in the fourth quarter to 852 million Swiss francs ($872.6 million) compared with 259 million francs a year earlier, helping to boost full-year net profit to 3.4 billion francs. Revenue across the…