Credit Suisse Lost $68 Billion in Assets Last Quarter, Outflows Continue

Credit Suisse Lost $68 Billion in Assets Last Quarter, Outflows Continue
The logo of Credit Suisse on a building near the Hallenstadion in Zurich on April 4, 2023. Pierre Albouy/Reuters
Reuters
Updated:

ZURICH—Credit Suisse said on Monday that 61 billion Swiss francs ($68 billion) in assets left the bank in the first quarter and that outflows were continuing, underscoring the challenge faced by UBS Group in rescuing its rival.

Customer deposits declined by 67 billion francs in the quarter and the bank noted many matured time deposits had not been renewed.