Credit Suisse reports first quarter loss; Barclays say that Q1 profits in Global Retail and Commercial Banking were ahead of last year’s: Profit in other key units down
Apr 24th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Credit Suisse, the second biggest Swiss banking group, today reported its first quarterly loss for five years, after further subprime related writedowns of securities. Meanwhile, the UK's third biggest bank Barclays, said its profits in the first quarter fell from a year earlier after its investment bank and fund management units were hit by tough financial market conditions.