Credit Suisse Slips To Loss In Q1; Revenues Climb - Quick Facts

(RTTNews) - Swiss lender Credit Suisse (CS) reported first-quarter net loss attributable to shareholders was 252 million Swiss francs, compared to profit of 1.31 billion francs a year ago.

Pre-tax loss was 757 million francs, compared to profit of 1.20 billion francs last year.

The latest quarter-results were significantly impacted by a 4.4 billion francs charge related to a US-based hedge fund, offsetting positive performance across wealth management and investment banking.

Adjusted pre-tax income was 3.60 billion francs, compared to 946 million francs last year.

Provision for credit losses were 4.39 billion francs, compared to 568 million francs a year ago.

Net revenues climbed 31 percent to 7.57 billion francs from 5.78 billion francs in the prior year. Adjusted revenues grew 35 percent to 7.43 billion francs.

Wealth Management-related revenues grew 3 percent and investment Bank revenues in US dollar grew 80 percent.

Looking ahead, the company expects market volumes to return to lower, and more normal, levels in the coming quarters.