Thursday, April 22, 2021

Credit Suisse Posts Q1 Loss, FINMA Opens Proceedings In Archegos Case; Stock Down

Shares of Credit Suisse Group AG were losing around 6 percent in Swiss trading after the banking major slipped to a loss in its first quarter from a profit last year on hefty charge related to a US-based hedge fund. Net revenues, however, were significantly higher. Looking ahead, the company expects market volumes to return to lower, and more normal, levels in the coming quarters.

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