Credit Suisse is bringing forward the winding up of its legacy loans division.

"We now plan to complete the wind-down of the Strategic Resolution Unit (SRU) by the end of 2018," it said.

The Swiss bank is accelerating the release of capital from the SRU by a year.

The SRU logged a pre-tax loss of CHF 539m ($545m) in the first quarter, against CHF 1.25bn