Credit Suisse clients continue to withdraw their money from the Swiss bank despite the bailout by UBS.
In the first quarter of 2023, the Swiss bank suffered "significant net outflows of assets" at group level, amounting to 61.2 billion francs, 5% of assets under management at the end of 2022.
To date, "these outflows have eased but have not yet reversed", reads the note on the quarterly results, which closed with a profit that jumped to 12.4 billion francs, compared with a loss of 1.39 billion in the same period of 2022, due to the cancellation of 15 billion francs of At1 bonds.
