Credit Suisse heaped more misery on the Swiss banking sector today after revealing first-quarter losses were more than treble the figure predicted by analysts as leveraged finance and structured credit writedowns more than doubled from the final three months of last year.
Just three days after Swiss rival UBS published a damning report detailing a series of failures that contributed to its own massive writedowns last year, Credit Suisse today posted a bigger-than-expected Sfr2.1bn (â¬1.3bn) net loss in the first quarter.
