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Credit Suisse booked US$283m Q3 litigation provisions
[ZURICH] Swiss bank Credit Suisse made legal provisions of 280 million Swiss francs (US$283 million) in the third quarter, according to its full quarterly report published on Friday.
It said it had received inquiries from authorities probing suspected corruption at world soccer body FIFA regarding its banking relationships with certain individuals and entities associated with FIFA, and it was cooperating.
Credit Suisse reported financial results last week in which it detailed plans to raise 6 billion francs, slim down its investment bank and cut jobs in the biggest overhaul of the Swiss bank in almost a decade.