Credit Suisse’s chief executive Oswald Gruebel reiterated the Swiss financial services group's 2007 financial targets, including increasing net income to SFr8 billion ($6.2 billion). Mr Gruebel was speaking at a presentation in London and went on to say the bank is looking at a pre-tax margin and a return on capital of both over 20 per cent by 2007. In private banking the group is targeting net income of around SFr 3 billion, a gross margin of 130 basis points and net new asset growth of over 5 per cent in the same timeframe. Mr Gruebel also said Credit Suisse was “well on track” with the implementation of its “one bank” strategy announced at the end of 2004.