Credit Suisse recently posted net loss of CHF 252 million in Q1 2021. The numbers reflected a significant charge in relation to the US-based hedge fund matter. The company descended into crisis after the collapse of US investment firm Archegos and suspending funds linked to the fallen British supply chain finance company Greensill Capital, reported Reuters.
In turn, Deutsche Bank reported its highest profit in seven years for the first quarter of the year. The growth was largely driven by its investment bank, benefitting from the boom in listing SPACs.
Last month, Deutsche Bank, moved its worldwide FX pricing engine designed for breakthrough markets, from London to Singapore. This followed a large-scale rise in Asian trading activities.
