Credit Suisse expects the second quarter

Credit Suisse (10.38, 0.09, 0.87%) said on Thursday that it expected to suffer another 600 million Swiss francs (about 654 million US dollars) in the second quarter, on top of the loss of 4.4 billion Swiss francs (about 4.7 billion US dollars) in the first quarter.

Credit Suisse expects the second quarter

The bank released its first quarter results on the same day, with a net loss of 252 million Swiss francs, less than expected. But the bank said it had been asked by FINMA, the Swiss market regulator, to increase its capital by about 1.9 billion francs, which is also initiating enforcement procedures against Credit Suisse.

 

The bank also said it had issued two batches of convertible bonds convertible into 203 million shares to strengthen its capital position.

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