Credit Suisse Group has posted a greater-than-expected SFr2.1 billion ($2.1 billion) net loss for the first quarter.
Switzerland's second-largest bank says it also has net writedowns of SFr5.3 billion for the first three months of the year.
It was the bank's first quarterly loss in five years and almost three times what analysts had expected. Credit Suisse said in March it was unlikely to post a profit in the first quarter because of rocky markets and a deliberate mispricing of credit assets by a group of traders.
"Our first-quarter results are clearly unsatisfactory," chief executive Brady Dougan said on Thursday, but he said other operations of the bank did well. More...
See also: What the UBS's $37 billion loss could have bought...
And this: Swiss bank UBS in crisis...
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