Credit Suisse to further cut costs, downsize investment bank
Bank aims to achieve 1.7b Swiss francs in cost savings this year, as it restructures to revitalise its earnings
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Zurich
CREDIT Suisse Group on Wednesday announced 800 million Swiss francs (S$1.12 billion) in additional cost cuts and plans to shrink its investment bank further as part of a restructuring plan aimed at revitalising its earnings.
Like its global peers, Credit Suisse is grappling with record-low interest rates, low commodity prices and slower growth in emerging markets such as China.
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