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

Dow Jones Newswires

Customer deposits drop by CHF67 billion, and have stabilized, but not yet reversed

The sign and logo of Credit Suisse bank is seen at their headquarters in Zurich on March 20, 2023.

fabrice coffrini/Agence France-Presse/Getty Images

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.


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