Archegos loss batters Credit Suisse

摘要

Strong first-quarter results from CREDIT SUISSE'S investment bank were wiped out by losses from failed prime broking client Archegos Capital Management, which has triggered an investigation by the bank's main regulator and prompted the bank to raise around SFrl.7bn (US$1.9bn) of capital. The Swiss bank had already said it would take a SFr4.4bn charge in the first quarter relating to Archegos, which was forced to close at the end of March. That has led to a SFr757m pre-tax loss for the period, slightly smaller than the SFr900m originally flagged.