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...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.