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Credit Suisse slumps to $2.2bn loss after torrid year
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Credit Suisse slumped to a CHF2bn ($2.2bn) loss in the fourth quarter as successive crises rocked the Swiss bank in 2021 — capping a torrid year that led to an exodus of talent, a strategic overhaul and a flurry of executive exits.
This was the biggest quarterly loss for the Swiss bank in four years, and Credit Suisse warned that it would be “adversely affected” by restructuring costs and pressure on pay in 2022 as it kicks of a three-year overhaul.
Credit...
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