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Credit Suisse records Q4 loss of 2.35b francs on litigation charge

Mr Thiam said cost-cutting is ahead of schedule and an improved market sentiment for banks that boosted trading in the fourth quarter has continued this year.


CREDIT Suisse Group AG posted a fourth-quarter loss of 2.35 billion francs (S$3.3 billion) after taking a charge to settle a US investigation into the role of its mortgage securities business in the 2008 financial crisis. For the full year 2016, the bank incurred a net loss of 2.44...

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