Home Stock Market Credit Suisse lost Sfr 252 million in the first quarter, when Archegos...

Credit Suisse lost Sfr 252 million in the first quarter, when Archegos wiped out trading profits


© Reuters. FILE PHOTO: The logo of the Swiss bank Credit Suisse is seen at a branch office in Zurich


ZURICH (Reuters) – Credit Switzerland (SIX 🙂 on Thursday announced first quarter first quarter pre-tax loss of 757 million Swiss francs was slightly smaller, as a multi-billion dollar loss from the collapse of US investment fund Archegos prevented becomes a good quarter of trading

Excluding the 4.4 billion francs fee and other key charges, the bank said pre-tax profit would be 3.6 billion francs, which would be the bank’s best quarter in at least a decade.

A net loss of 252 million francs compared to an average estimate of 815 million francs in the bank’s own 17 analysts poll.

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