April 24 (Bloomberg) — Credit Suisse Group, Switzerland’s second-biggest bank, reported a first-quarter loss that exceeded estimates on writedowns linked to deteriorating credit markets.
The net loss, the bank’s first in almost five years, totaled 2.15 billion Swiss francs ($2.1 billion), compared with a 2.73 billion-franc profit a year earlier, Zurich-based Credit Suisse said in a statement today. The median estimate of 14 analysts surveyed by Bloomberg News was for a 594 million-franc loss. more
