BBC News reports that the results have also revealed the scale of the Credit Suisse bank run.
“The Swiss banking giant said 61.2bn Swiss francs (£55.2bn; $68.6bn) left the bank in the first three months of the year,” BBC News reports.
Billions had also been withdrawn in the final months of 2022 as the bank experienced its worst year since the 2008 financial crisis, losing 7.3b Swiss francs.
“If anything today we’ve got confirmation of what UBS has bought,” M&G Wealth Investments chief investment officer Shanti Kelemen told BBC News.
