Credit Suisse reported a total of 61.2 billion Swiss francs (CHF) ($69 billion) in outflows in the first quarter of 2023, with a net asset outflow of CHF 47.1 billion ($52 billion) in its wealth management division. The bank also registered a CHF 1.32 billion ($1.48 billion) impairment charge in its wealth management unit in the quarter. However, Credit Suisse reported a net income of CHF 12.43 billion ($13.97 billion) in the first quarter, compared to a net loss of CHF 273 million ($307 million) in the same period in the previous year. The bank expects to report substantial pre-tax losses in the second quarter of 2023 and 2024. Factors weighing on the bank's results for the next quarter and year include litigation, regulatory action, credit spreads and related funding costs, and non-core jobs.