ZURICH Swiss bank Credit Suisse does not expect to see further trading write-downs on the same scale as in recent quarters, Chief Financial Officer David Mathers told Reuters on Tuesday. “I think I would be very surprised to see further significant writedowns in the trading book side,” Mathers said in an interview after Credit Suisse posted first-quarter earnings.”I think it is unlikely that we will see a repetition of what we saw in the first quarter or the fourth quarter.”
The bank has faced questions over its risk controls after it disclosed more than $1 billion in trading writedowns on illiquid positions. Chief Executive Tidjane Thiam has said he and other senior bank officials were unaware of the size of the positions behind the write-downs.
(Reporting by Joshua Franklin and Oliver Hirt; Editing by Michael Shields)Download