ZURICH - Credit Suisse Group AG said Tuesday it swung to its second sequential quarterly misfortune, as the Swiss moneylender attempted to rebuild its venture keeping money business.

  Zurich-based Credit Suisse reported a first-quarter net loss of 302 million Swiss francs ($311 million), contrasted and a benefit of 1.05 billion francs in the same period a year ago. Net income fell 30% to 4.64 billion francs.
 
  The Worldwide Markets division of Credit Suisse's venture bank, the exchanging unit that has been home to risky obligation positions that have produced huge compose downs as of late, swung to a pretax loss of 635 million francs for the quarter from a benefit of 842 million francs in the same quarter a year ago, as net income fell 60%.
 
  The misfortune for Credit Suisse's venture bank had been hailed before by the moneylender. Likewise, Credit Suisse's riches administration organizations, which the bank is depending upon to stay its arranged patch up, turned in preferable numbers over numerous experts had expected for the period.
 
  Credit Suisse's profit report comes in the midst of a troublesome stretch for European banks by and large, and not long after adversary UBS Group AG, the world's greatest riches supervisor, reported baffling first-quarter results..
 
  Credit Suisse CEO Tidjane Thiam said that while there were "provisional signs" of an abundantly required pickup in customer movement in March and April, "low levels of customer action are liable to continue in the second quarter of 2016 and conceivably past."
 
  The latest quarterly results appear differently in relation to the same period a year ago, when a solid execution from Credit Suisse's speculation bank supported the bank's profit. Experts had expected a net loss of 195 million francs for the quarter and 5.27 billion francs in income.
 
  Credit Suisse offers have lost almost 50 per cent of their quality since Mr. Thiam assumed control last July. He has looked to wean Credit Suisse from its generally strong venture bank to concentrate more on moderately less unreasonable, and customarily more solid, riches administration organizations - especially in Asia and other developing markets.
 
  While the movement has for the most part been invited by financial specialists, its usage has been hampered by unstable economic situations. What's more, inner perplexity with respect to the adjustment in authority at the speculation bank unit has confused the exertion, as The Wall Street Journal  has reported already.
 
  In March, Credit Suisse astonished financial specialists and examiners with news that tricky obligation exchanging positions in the speculation bank had brought on $633 million in compose downs in the final quarter, and a further $346 million in compose downs into the primary quarter as of March 11. Credit Suisse said around then it would assist cut the danger weighted resources distributed to the venture bank, haul out of organizations and cut an extra 2,000 occupations jobs at the unit.
 
  Prior this month, Credit Suisse said it sold off troubled obligation resources that had been stopped on its speculation bank's books- - diminishing its credit presentation, and bringing about a foreseen charge of generally $100 million. On Tuesday, Credit Suisse said its introduction to troubled obligation positions fell 79% contrasted and the earlier, final quarter, while its collateralized advance commitments fell 81%.
 
  Toward the end of last year, Mr. Thiam tapped financial specialists for new value to reinforce Credit Suisse's generally thin capital pad, and to support his rebuilding exertion. The bank has said it means to keep its key capital proportion somewhere around 11% and 12% this year. On Tuesday, Credit Suisse said the proportion remained at 11.4% toward the end of the primary quarter- - the same level as in the final quarter.
 
  Complete working costs in the primary quarter fell 3%, to 4.97 billion francs, Credit Suisse said.
 
  Pretax benefit for Credit Suisse's general business in Asia fell 46% to 251 million francs. The unit's private saving money business pulled in 4.3 billion francs in net new resources in the quarter, Credit Suisse said, contrasted and 4.5 billion francs in the same period a year ago.
 
  Credit Suisse's Switzerland-based Swiss General Bank unit pulled in 700 million francs in net new resources for its private managing an account business, not as much as half of the sum acknowledged in the same period a year ago. The International wealth Administration unit, which covers markets outside of Asia and Switzerland, reported 5.4 billion francs in net new resources for its private keeping money unit in the period, contrasted and outpourings in the same period a year ago.
 
  Pretax benefit at the Swiss universal Bank, which is slated for an incomplete first sale of stock before one year from now's over, was level contrasted and the period a year ago at 426 million francs, Credit Suisse said. Net income at the business slipped 2%. The International wealth Administration unit reported a 3% ascend in pretax benefit in the quarter, while net income rose 4%.