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(Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-biggest bank, said currency volatility has “not materially impacted” the bank’s capital ratios after the Swiss central bank cut the franc loose from the euro.

The impact on profit will depend on the average exchange rates of the franc to the dollar and euro in 2015 as well as on “any offsetting management actions,” the Zurich-based bank said in a statement on its website.

The Swiss National Bank on Jan. 15 scrapped a three-year- old policy of capping its currency against the euro and the franc soared as much as 41 percent that day against the euro.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net To contact the editors responsible for this story: Elisa Martinuzzi at emartinuzzi@bloomberg.net Cindy Roberts

Bloomberg