Credit Suisse Group warns of net loss in Q4 last yearReuters, ZURICH, SwitzerlandCredit Suisse Group AG yesterday said it was likely to make a net loss in the fourth quarter, as the scandal-hit lender flagged fresh legal costs and said business in its trading and wealth management divisions had slowed. Combined with other charges, it said this was expected to result in a reported pre-tax income or loss of “approximately breakeven” for the fourth quarter. The logo of Credit Suisse at a branch office in Zurich, Switzerland, is pictured on Nov. 3. It said at the time it expected to take an impairment of 1.6 billion Swiss francs in the fourth quarter on remaining investment banking-related goodwill on its books. Credit Suisse yesterday said that its investment bank would also be affected by a slowdown in transaction-based revenue.

Source: Taipei Times January 26, 2022 00:57 UTC