Lower litigation costs and higher revenues across all businesses powered a sixfold increase in pre-tax profits at Credit Suisse's investment bank in the first half of the year, despite "more volatile conditions" in the second quarter.

The business generated profits before tax from continuing operations of Sfr2.9bn (€1.8bn), compared with Sfr374m in the first six months of last year, when the bank upped its pre-tax litigation reserves by Sfr960m during the second quarter.