Credit Suisse said on May 10 it swung to its second consecutive quarterly loss, as the Swiss lender struggled to restructure its investment banking business.

Zurich-based Credit Suisse reported a first-quarter net loss of Sfr302 million ($311 million), compared with a profit of Sfr1.05 billion in the same period last year. Net revenue fell 30% to Sfr4.64 billion.