Credit Suisse loss slightly smaller than expected
The hard-hit bank said it was raising capital by issuing notes convertible into 203-million shares
22 April 2021 - 10:42
Zurich — Credit Suisse posted a slightly smaller-than-flagged Sf757m first-quarter pretax loss on Thursday, as a multibillion dollar hit from the collapse of US investment fund Archegos stymied a bumper trading quarter.
Stripping out the Sf4.4bn charge and other significant items, the bank said pretax profit would have been Sf3.6bn, which would have represented the bank’s best quarter operationally in at least a decade...
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