Credit Suisse fended off withering criticism from shareholders over bonuses at a lively AGM in Zurich today after chairman Urs Rohner conceded the bank faced "challenging times".

Litigation concerns topped the agenda for the Swiss bank. Rohner said the dispute with US authorities over whether the Swiss bank helped American citizens to hide assets is "one of the most pressing issues" faced by the bank, but assured shareholders that it was doing everything it could to reach a settlement.