4/27, 6:49 AM (Source: TeleTrader)
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Credit Suisse revenues fall 42% to hit 4.4B Swiss francs in Q1

Credit Suisse Group AG announced on Wednesday that its revenue in the first quarter of 2022 decreased by 42% on an annual basis to land at 4.41 billion Swiss francs (~$4.58 billion).

During the same period, the company's loss before taxes went down from last year's 757 million Swiss francs to 428 million Swiss francs, as its basic loss per share for the first three months of 2022 ended at the same position as in Q1 of 2021, at 0.10 Swiss franks.

"The first quarter of 2022 has been marked by volatile market conditions and client risk aversion. These conditions, together with the impact from our reduction in risk appetite in 2021 as we took decisive actions to strengthen our overall risk and controls foundation, had an adverse impact on our net revenues," Credit Suisse CEO Thomas Gottstein commented on the report.

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