Credit Suisse Group reported a 96 per cent decline in first-quarter profit after booking accounting charges related to its own debt and costs for 2011 bonuses.
Net income fell to 44 million Swiss francs (€37 million) from 1.14 billion francs in the year-earlier period, the Zurich-based bank said in a statement today. That beat the 297.9 million-franc average loss estimate of nine analysts surveyed by Bloomberg.
Credit Suisse decided to scale down its investment bank last year as the European...
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