ZURICH (Reuters). Credit Suisse (SIX) does not plan to increase its capital, a source who is familiar with the matter said Wednesday to Reuters. This was after the Swiss bank had reported a decline in capitalisation.

Executives said that the bank had reported a loss of 273 millions Swiss francs (or $2283.6 million) in its first-quarter. However, capital will be limited as it continues to spend significant resources towards compliance and risk.

Core capital, also known as common equity tier 1, fell to 13.8% in 2021 from 14.4%. The company is striving to achieve a CET1 ratio higher than 14% in its 2024 strategic plans.

According to a source, it would be crucial for the bank to have strong capital while they undergo transition. The source said that the bank does not plan to raise capital. However, the source added that the bank’s capital ratio is higher than those of its peers in the United States and more comparable with European counterparts.