Credit Suisse Group, Zurich, took another sizable CMBS writedown during the first quarter but fared well in several other areas including secondary trading of U.S. RMBS.

The company said it took 1.4 billion Swiss francs ($1.2 billion) in commercial mortgage-backed securities writedowns during the period.

Strong results in secondary trading of U.S. RMBS and other areas allowed the company as a whole to generate 2.0 billion Swiss francs ($1.7 billion) in net profit during the quarter.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.