Credit Suisse expects higher costs from US case to push it to Q4 loss
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[ZURICH] Credit Suisse on Friday said it expects to book a net loss for its fourth quarter after increasing its provisions for a long-running dispute in the US by US$850 million.
The bank had already set aside US$300 million in connection with the case which relates to a decade-long dispute regarding a US residential mortgage-backed security, but said in December it expected the figure to rise.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
