Dow Jones Newswires: Credit Suisse suffered outflows of 61.2 billion Swiss francs in first quarter

by | Apr 24, 2023 | Stock Market

Credit Suisse Group AG swung to a net profit on Monday, overturning five consecutive straight quarterly losses, reflecting the write-down of billions in AT1 capital notes relating to its takeover by UBS Group AG. The Swiss lender said its made 12.43 billion Swiss francs in quarterly income ($13.93 billion), compared with a loss of CHF273 million in the same period of 2022, on revenue that more than tripled to CHF18.47 billion. The…

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