by Amruth Sundarkumar | May 17, 2022 | Banks, Credit Ratings
Credit Suisse was downgraded to A from A+ by S&P and its nonoperating holding company, Credit Suisse Group AG was cut to BBB from BBB+. S&P notes that while Credit Suisse is working to enhance its risk management capabilities, the effectiveness remains...
by Amruth Sundarkumar | May 6, 2022 | Banks
Credit Suisse reported a net loss of CHF 273mn ($277mn) during its Q1 2022 results on net revenues of CHF 4.4bn ($4.5bn), down 42% YoY. Operating expenses jumped 9% higher YoY, driven in particular by higher previously reported litigation expenses of CHF 703mn...
by Amruth Sundarkumar | Apr 21, 2022 | Banks
Credit Suisse Group expects to post a Q1 2022 loss on rising legal provisions, hit from the Russia-Ukraine war, and the slowdown in capital market deals/business activity. The results are due on April 27. In March, a Bermuda court ruled in favor of Georgia’s...
by Amruth Sundarkumar | Jan 26, 2022 | Banks
Credit Suisse warned of reporting a Q4 loss after incurring fresh legal costs and adding that business in its trading and wealth management divisions slowed, with an overall drop in assets. Credit Suisse will make a fresh legal provision of CHF 500mn ($545mn) to...
by Amruth Sundarkumar | Oct 20, 2021 | Banks
Swiss banking major Credit Suisse Group AG will have to shell out about $475mn to resolve an international legal saga that has been going on for many years now related to the Mozambique scandal. As per prosecutors, the bank deceived investors by hiding information...
