ZURICH -- Credit Suisse reported Wednesday a sharp drop in net profit for the first quarter, pressured by an accounting loss on its own debt and lower revenue at the investment bank, which shed risky assets to adapt to a tougher regulatory and market environment.
Excluding a raft of one-off items, net profit came in at 1.36 billion Swiss francs, Credit Suisse said.
Revenue fell to 5.88 billion Swiss francs in the quarter ended March 31, from 7.81 billion francs.
Credit Suisse did not provide an outlook statement.
Its shares were up one percent in early Zurich trading.
Credit Suisse, net profit, Swiss francs, investment bank