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Credit Suisse expects higher costs from US case to push it to Q4 loss

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Published Fri, Jan 8, 2021 · 06:53 AM

    [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

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