Credit Suisse's 'crisis quarter' exit balance sheet announced

Credit Suisse reported that the bank experienced an outflow of $69 billion in the first quarter when the crisis that shook global markets broke out. The bank stated that this outflow level was moderate. The first results regarding the damage at Credit Suisse, which has recently emerged as the biggest crisis in the global financial sector, have emerged. The bank reported that it experienced a net outflow of 61.2 billion francs ($69 billion) in the first quarter. The bank's statement emphasized that these outflows were moderate. However, it was also stated that these outflows were not reversed. Credit Suisse, which recorded a goodwill loss of 1.3 billion Swiss francs in its Asset Management unit, said that the risks to its business and operations were "further intensified" until its merger with UBS was finalized. The statement stated that Credit Suisse's performance in the first quarter of this year was affected by the bank's near bankruptcy and plans for its acquisition by UBS Group. It was reported that net asset outflows from Credit Suisse in the first quarter of this year increased especially in the second half of last month. The collapse of Silicon Valley Bank and Signature Bank in the US last month has also put pressure on European banks. The impact was seen in Switzerland’s second-largest bank, the 167-year-old Credit Suisse. The bank’s stock fell sharply and selling pressure spread throughout the market. UBS bought Credit Suisse for 3 billion francs with government and central bank support.