Venture Capital

Rpt-update 2-credit Suisse Boosts Capital As Archegos Wipes Trading Gains

by posted 4months ago 118 views
Credit Suisse said on Thursday it will boost capital reserves after taking a multi-billion dollar hit from the collapse of U.S. investment fund Archegos, while regulators announced an enforcement case against the bank over the matter. Switzerland's second-biggest bank after UBS posted a slightly smaller-than-flagged 757 million Swiss franc ($825.97 million) first-quarter pre-tax loss, as the Archegos hit wiped out gains from a bumper trading quarter.