May Looks 'Positive' For Credit Suisse Despite 1Q Loss
Credit Suisse Group AG posted a second consecutive quarterly loss after a tumultuous start to the year prompted Chief Executive Officer Tidjane Thiam to deepen cost cuts at the securities business, hurt by writedowns on trading positions. Switzerland’s second-biggest bank on Tuesday reported a loss of 302 million Swiss francs ($311 million) in the three months through March, compared with a profit of 1.05 billion francs a year ago. Analysts predicted a loss of 344 million francs in that period, according to the average of 10 estimates compiled by Bloomberg. Chief Executive Officer Tidjane Thiam discussed numbers with Bloomberg's Francine Lacqua.
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