ZURICH, May 5 Reuters Credit Suisse froze 10.4 billion Swiss francs 10.63 billion of wealthy clients39; assets in the first quarter under sanctions imposed in connection with Russia39;s invasion of Ukraine, the bank39;s financial report showed on Thursday.

The Swiss bank39;s financial report gave more details of its firstquarter results, which were originally published last week. 

In 1Q22, CHF 10.4 billion of assets under management were reclassified to assets under custody due to the imposed sanctions, Credit Suisse said of its wealth management division.

The financial report showed that a 10.4 billion franc impact on the bank39;s wealth management assets related to assets frozen due to sanctions.

The bank also said Russian clients now held less than 4 of assets under management in its wealth management businesses.

Last week, Credit Suisse had reported a firstquarter net loss of 273 million Swiss francs, dented by net litigation provisions of 703 million francs as well as a 206 million franc hit related to the Ukraine conflict.

The financial report published on Thursday showed gross impaired loans had risen by 230 million francs from end2021 in wealth management.

Credit Suisse said this was mainly driven by aviation and yacht finance, lombard lending, export finance and European mortgages, partially offset by a decrease in ship finance.

The increase in impaired loans included adverse impacts from Russia39;s invasion of Ukraine and related sanctions, the bank…