Credit Suisse Group AG gave a glimpse of its chaotic final weeks before a rescue last month by UBS Group AG in a first-quarter earnings report that showed revenue diving and customers rushing to pull deposits.
The Swiss bank lost more than $2 billion from its businesses in the first quarter, but posted a large net profit because of the benefit of writing off $17 billion in bonds. Customers withdrew around $75 billion in deposits, in a run that the bank says has moderated since the UBS deal announcement on March 19. Revenue fell across its investment-banking and wealth-management arms and its domestic bank.
