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Slump in revenues at Credit Suisse's global markets arm sends shares lower

Credit Suisse Group AG's global markets trading division has seen a decline in revenues since mid-February, Reuters reported, citing CEO Tidjane Thiam.

According to a slide presentation by Thiam during the Morgan Stanley European Financials Conference in London March 22, global markets revenues in the first six weeks of 2018 were roughly consistent with that of the same period a year earlier.

Thiam said there is "nothing to be alarmed about." Although the quarter will be "slow" compared to the full year, he still expects it to be profitable.

The bank, which is in the final stages of a major restructuring exercise, anticipates that the performance of its global markets trading division will not "move the needle" in the bank's overall results.

After Thiam's presentation, the bank's shares dropped as much as 3.3%, Reuters reported.