Credit Suisse, a Switzerland-based financial services firm, today released its financial results for the first quarter of 2021. The bank reported a CHF 252 million ($275 million) net loss during Q1 of 2021, which is a significant drop compared to the same period in 2020.
According to the official announcement, Credit Suisse suffered major losses due to the recent US-based hedge fund scandal. Earlier this month, Credit Suisse released an update about the expected losses from the meltdown of a US-based hedge fund.
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