Trump tax bill could put Credit Suisse at risk of third straight loss
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Zurich
CREDIT Suisse Group AG is at risk of posting a third consecutive annual loss after predicting it will take a 2.3 billion-franc (S$3.12 billion) hit from a US tax overhaul signed into law by President Donald Trump.
Unless the Zurich-based bank made significantly more than 1 billion francs in the last quarter, the writedown could trigger yet another yearly deficit for the lender, which had a net income position of 1.14 billion Swiss francs after nine months.
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