Credit Suisse posts US$7.9b net loss for 2022

GENEVA, Feb 9 ― Credit Suisse expects to post a substantial loss this year after the beleaguered bank today reported a net loss of 7.293 billion Swiss francs (RM34 billion)...

GENEVA, Feb 9 ― Credit Suisse expects to post a substantial loss this year after the beleaguered bank today reported a net loss of 7.293 billion Swiss francs for 2022.

Credit Suisse also announced the acquisition of the M. Klein & Company investment bank for US$175 million. Credit Suisse had announced a revamp in October aimed at drastically reducing the scale of its investment bank, in a bid to repair the damage following a series of scandals.

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