Credit Suisse Reports $68 Billion in First-Quarter Outflows.
TL;DR Summary
Credit Suisse has reported a loss of SFr1.3bn ($1.4bn) in its final quarterly results, marking a significant drop in financial performance. The loss was attributed to a $850m provision for legal disputes and a $300m impairment charge on a hedge fund investment. The bank's CEO, Thomas Gottstein, stated that the results were "clearly disappointing" and that the bank would be taking steps to improve its risk management and control processes.
- Live news: Credit Suisse reports SFr1.3bn loss in final quarterly results Financial Times
- Credit Suisse logged asset outflows of more than $68 billion during first-quarter collapse CNBC
- Credit Suisse Saw $69 Billion of Outflows in Frantic Quarter Bloomberg
- Credit Suisse saw $68 billion in first-quarter outflows as it crumbled Reuters.com
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