Credit Suisse, Switzerland’s second-largest bank, made more changes to its management team and reported a loss due to weak business conditions and higher costs from lawsuits
Credit Suisse Group AG made more changes to its management team Wednesday and reported a quarterly loss due to weak business conditions and higher costs from lawsuits.
The bank’s net loss for the first quarter was around $284 million, following a $2.2 billion loss in the last three months of 2021. Its main capital ratio slipped to 13.8% from 14.4% at the end of December. Unless the bank returns to profitability, the drop in its capital could weigh on its ability to conduct buybacks and pay dividends.
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