Key takeaways from Credit Suisse results

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It was one of Credit Suisse’s most anticipated press conferences. The bank unveiled its quarterly results on Thursday after a first quarter marked by two debacles, that of the bankruptcy of Greensill, then the implosion of the American hedge fund Archegos. In addition to historic losses, the two cases have led to bonus cuts, multi-level executive departures and an unprecedented crisis of confidence for Switzerland’s second-largest bank. In five points, the information to remember.

■ Excellent results, but…

Without taking into account the losses linked to Archegos, Credit Suisse would have achieved one of its best quarters with a gross profit of 3.6 billion francs. At the same time last year, the bank recorded a gross gain of just under $ 1 billion. The Swiss establishment is not an isolated case – the banks, especially American, which published their figures for the first three months of the year all showed good results.

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