RTTNews | Apr 22, 2021 01:22AM EDT

01:21 Thursday, April 22, 2021 (RTTNews.com) - Swiss lender Credit Suisse (CS) reported first-quarter net loss attributable to shareholders was 252 million Swiss francs, compared to profit of 1.31 billion francs a year ago.

Pre-tax loss was 757 million francs, compared to profit of 1.20 billion francs last year.

The latest quarter-results were significantly impacted by a 4.4 billion francs charge related to a US-based hedge fund, offsetting positive performance across wealth management and investment banking.

Adjusted pre-tax income was 3.60 billion francs, compared to 946 million francs last year.

Provision for credit losses were 4.39 billion francs, compared to 568 million francs a year ago.

Net revenues climbed 31 percent to 7.57 billion francs from 5.78 billion francs in the prior year. Adjusted revenues grew 35 percent to 7.43 billion francs.

Wealth Management-related revenues grew 3 percent and investment Bank revenues in US dollar grew 80 percent.

Looking ahead, the company expects market volumes to return to lower, and more normal, levels in the coming quarters.

Read the original article on RTTNews ( https://www.rttnews.com/3187011/credit-suisse-slips-to-loss-in-q1-revenues-climb-quick-facts.aspx)

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