December 2, 2022

Credit score Suisse forecasts $1.6bn loss on wealth administration

Credit Suisse forecasts 16bn loss on wealth management

Credit Suisse forecasts 16bn loss on wealth management

Credit score Suisse has forecast a pre-tax lack of as much as SFr1.5bn ($1.6bn) within the fourth quarter of its monetary yr, citing a “substantial” industry-wide slowdown.

The Swiss financial institution, which is present process a restructuring to get better from a string of scandals, mentioned in an up to date outlook on Wednesday that its wealth administration division was prone to submit a loss after internet curiosity earnings took a success from decrease deposits and costs. It additionally expects the funding financial institution to make a big pre-tax…

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