Thiam said there was no need for consolidation with other European banks as it would be difficult in "this new environment". http://bloom.bg/2b2IYyG

Citing strong organic growth, Thiam said Credit Suisse would not need to buy another bank.

Credit Suisse posted an unexpected second-quarter net profit on July 28, boosting Thiam's efforts to restructure Switzerland's second-biggest bank.

The bank's shares were down 48.8 percent this year up to Monday's close.

(Reporting by Shalini Nagarajan in Bengaluru; Editing by Sunil Nair)