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

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. Read More...

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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