Swiss banking firm Credit Suisse Group AG (CS), which is in deal to be bought by UBS Group AG (UBS), reported Monday that its first-quarter net income attributable to shareholders was 12.43 billion Swiss francs, compared to last year's loss of 273 million francs.
Pre-tax income was 12.76 billion francs, compared to loss of 428 million francs a year ago.
The latest result primarily reflected the write-down to zero of 15 billion francs of additional Tier 1 or AT1 capital notes as ordered by the Swiss Financial Market Supervisory Authority FINMA in light of the planned merger.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.