Earnings

Credit Suisse earnings Q1 2023

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A sign of Credit Suisse bank is seen on a branch building in Geneva, on March 15, 2023.

Fabrice Coffrini | AFP | Getty Images

Credit Suisse on Monday revealed that it suffered net asset outflows of 61.2 billion Swiss francs ($68.6 billion) during the first-quarter collapse that culminated in its emergency rescue by domestic rival UBS.

The stricken Swiss lender posted a one-off 12.43 billion Swiss franc profit for the first quarter of 2023, due to the controversial write-off of 15 billion Swiss francs of AT1 bonds by the Swiss regulator as part of the deal. The adjusted pre-tax loss for the quarter came in at 1.3 billion Swiss francs.

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