£55bn withdrawn from Credit Suisse before collapse

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Credit Suisse has revealed the scale of the bank run that triggered its state-backed rescue in March.

The Swiss banking giant said 61.2bn Swiss francs (£55.2bn; $68.6bn) left the bank in the first three months of 2023.

It came as the bank reported what are expected to be its last ever financial results.

Its forced sale to rival Swiss bank UBS is expected to be completed soon.

Credit Suisse's flagship wealth management division saw the amount of assets it managed drop to 502.5bn francs at the end of March, almost 29% lower than the same period last year, Credit Suisse said in a statement.

"These outflows have moderated but have not yet reversed as of April 24, 2023," it added.