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BBCNEWS World Business Report July 6, 2024

giant has revealed results for the first quarter of this year. the last quarter before it had to be rescued by its swiss rival andy illustrate the scale of the crisis which was around the corner. betweenjanuary and march, credit suisse made a pre tax loss of nearly one and a half billion dollars and to add to its woes, a massive amount of deposits were withdrawn in that three month period. total output was nearly $69 billion and to remind you what happened next, there were fresh doubts about the stability of the wider banking industry, just a few weeks ago investors became increasingly fearful for the future of credit suisse, it was eventually bought by the swiss rival in what was described as an emergency rescue. the $3 billion price tag a mere fraction of what the bank would have been previously valued. this crop looked cross live to the head of investment at interactive investment. for being with us. what s interesting is that we also heard from credit suisse today t ....

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BBCNEWS World Business Report June 4, 2024 10:32:00

Investment. for being with us. what s interesting is that we also heard from credit suisse today that withdrawals are still continuing, although not as at a dramatic pace as they were in the first quarter. you are right and we continue to see withdrawals and suffered a 67 billion swiss francs drop in customer deposits and 61 billion returns a net outflows and a considerable shrinking in terms of the size of its wealth management division which is meant to be the bright spot of this lender. clearly it suffering from huge lack of investor confidence. there is a lot of disgruntled shareholders, particularly after a lot of its bonds were written down to zero following its first acquisition from ubs and there s a lot of uncertainty and horizon as this marriage comes to fruition. ,, , ., to fruition. quite interesting that with these outflows to fruition. quite interesting that with these outflows continuing, i with these outflows continuing, clearly investors, depositors have ....

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