Credit Suisse: Net asset outflows topped $68 billion in Q1

GENEVA (AP) — Credit Suisse says investors are continuing to withdraw assets this month as it reported over 61 billion Swiss francs (over $68 billion) in net asset outflows in the first quarter. The Zurich-based bank cited “significant net asset outflows” as it posted its first-quarter results that were skewed by a government-backed takeover by rival UBS announced on March 19. The takeover is expected to close in the coming months, and was designed in part to help stabilize the global financial system after the collapse of two U.S. banks.