The first-quarter result comes as the Zurich-based bank is being taken over by Swiss peer UBS as part of an emergency measure to shore up confidence in the global banking system.
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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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