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CEO Tidjane Thiam (R) of Swiss bank Credit Suisse awaits a news conference to present the bank's halfyear results in Zurich, Switzerland July 28, 2016. REUTERS/Arnd Wiegmann
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(Reuters) - Swiss bank Credit Suisse AG
Thiam said there was no need for consolidation with other European banks as it would be difficult in "this new environment".
Citing strong organic growth, Thiam said Credit Suisse would not need to buy another 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)
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