Credit Suisse reports loss
Published April 24th, 2008
Credit Suisse has reported a loss for the first three months of the year, hit by its exposure to the credit markets.
The bank made a net loss of 2.1bn Swiss francs ($2.1bn; £1.0bn) after writing down 5.3bn Swiss francs in mortgage securities and big buyout loans.
It had made a net profit of 2.7bn Swiss francs in the same period of last year.
Credit Suisse had already warned it was likely to make a loss, which it blamed partly on the “intentional misconduct” of a number of traders.
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