Loss provisions at Credit Suisse highest in three years

Provisions for credit losses took an Sfr81 million ($79 million) bite out of Credit Suisse's first-quarter income.

PCLs were up 37% on Q4 2018 and 69% on the year-ago quarter. The bulk of provisions over the first three months of this year were assigned to the Swiss universal bank, Asia-Pacific unit and global markets division. PCLs hit Sfr29 million, Sfr17 million and Sfr10 million at these entities, respectively, up from Sfr26 million, Sfr8 million and Sfr5 million the prior quarter.


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