Following the consistent global financial crunch and political turmoil in Arab nations, the giant British bank Barclays suffered a major loss of 15% in the income from its investment banking arm in comparison to the 8% hike in the revenue as reported by Switzerland's second-largest bank, Credit Suisse in the first-quarter of the year.

Though Credit Suisse weathered a tough time in the second half of last year, the bank recovered substantially from the major loss. Responding to the news, Rich Ricci, co-head of Barclays Capital, claimed, "In normal economic conditions we would be 3.6 to 3.7 billion (pounds). Given the geopolitical issues and natural disasters we showed a resilient performance," he said on a conference call”.

Apparently, Barclays got a significant profit from its equities and advisory businesses with revenue escalating to 10% from a year ago mark.

Amid this race between the two renowned banks, Swiss and British watchdogs have cautioned them to put a check on lending in order to avert the repeat of financial crisis in 2008.

Meanwhile, Credit Suisse (CS) has been battling a controversy with a corporate governance firm, Ethos over the decision of raising the salary package of senior board director by more than double in a single year.