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Credit Suisse warns it is facing another loss in the second quarter

The Swiss bank unveiled a loss of CHF273m in the first quarter

Credit Suisse said that it was set to speed up cost-cutting initiatives.
Credit Suisse said that it was set to speed up cost-cutting initiatives. Photo: Fabrice Coffrini/AFP/Getty Images

Credit Suisse has warned that it is facing another quarterly loss, as weak performance in parts of its investment bank has weighed on profits.

The Swiss bank said that the impact of Russia's invasion of Ukraine, monetary tightening by central banks in response to inflation and the unwinding of measures implemented during the Covid-19 pandemic have all hit its profitability.

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