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Credit Suisse’s investment bank set for fourth quarter loss after CHF500m hit
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Credit Suisse is set to post a loss for its investment bank for the final three months of 2021, as a slow down in trading revenues and a CHF500m (£405m) hit from legal costs prove to be another blow to the Swiss bank after a series of crises.
The bank said that provisions for legal costs of CHF500m, more "normal trading conditions" and the closure of its prime services unit would hit profits in its investment bank in the fourth quarter. Credit Suisse is due to report its results on 10 February.
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