Credit Suisse expects a loss of CHF 1.5 billion in the final quarter

Zurich The major Swiss bank Credit Suisse confirmed its loss forecast for the fourth quarter before the shareholders voted on a billion-dollar capital increase. According to information from Wednesday, the crisis-ridden institute expects a pre-tax deficit of around CHF 1.5 billion in the period from October to December.

Lower deposits and invested assets should result in lower net interest income, lower recurring commissions and fees and a loss in wealth management. The bank explained that there would also be negative earnings effects as a result of the exit from non-core businesses and commitments.

More: “Historical moment”: Credit Suisse reports billions in losses and radical restructuring

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