Credit Suisse posts huge third-quarter loss as it announces major strategic overhaul - 27 octombrie 2022

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Credit Suisse has been plagued by sluggish investment banking revenues, losses relating to its business in Russia and litigation costs following a host of legacy compliance and risk management failures, most notably the Archegos hedge fund scandal. The embattled lender posted a third-quarter net loss of 4.034 billion Swiss francs ($4.09 billion), compared with analyst expectations for a loss of 567.93 million Swiss francs. The figure is also well below the 434 million Swiss franc profit posted for the same quarter last year.

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