Credit Suisse Q1 Results Impacted By Higher Litigation and Compensation; Revenues Down

Credit Suisse Group AG reported a net attributable loss of CHF 273 million. in Q1 2022, compared to a CHF 252 million loss in Q1 2021 and a CHF 2,085 million net loss in Q4 2021. Q1 2022 results were negatively impacted by higher major litigation provisions of CHF 653 million, a CHF 353 million loss from its equity investment in Allfunds, and CHF 206 million Russia related losses that fed both through to lower revenues and some credit losses