Credit Suisse puts Bermuda court case hit at around $600 million

2022.05.05 08:30

Budrigannews.com – Credit Suisse (SIX:CSGN) expects a Bermuda court case to cost it around $600 million, the Swiss bank said in its first-quarter financial report released on Thursday, specifying earlier remarks that damages could be well in excess of $500 million.

Its report kept its first-quarter net loss at 273 million Swiss francs ($280.5 million) and had net litigation provisions of 703 million, unchanged from the figures it previously reported.

($1 = 0.9732 Swiss francs)

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Credit Suisse puts Bermuda court case hit at around $600 million