The Credit Suisse bank saw a loss of 61 billion Swiss francs - around 62 billion euros - in deposits and other funds under management in the first quarter.

According to a press release issued this Monday and quoted by Bloomberg, which comes as part of the presentation of results for the period from January to March, the bank, which has since been acquired by UBS, says it has seen a significant increase in withdrawals, as well as in the non-renewal of term deposits.

As for the value of the assets managed by the wealth management division, Credit Suisse reports that these fell to 502.5 billion francs (513.4 billion euros) at the end of March, compared to the 707 billion (722 billion euros) reported in the same period last year.

The results also indicate a pre-tax profit of 12.8 million Swiss francs (13.08 million euros) in the first quarter, boosted by the reduction to zero of tier 1 bonds of 15 billion francs as part of the acquisition of Credit Suisse by UBS, Bloomberg reports. Without this adjustment, Credit Suisse would have recorded a loss of 1.3 billion francs.

Source: Bloomberg