Credit Suisse: heavy loss in Q2

(CercleFinance.com) - Credit Suisse has reported a pre-tax loss of 1.
17 billion Swiss francs for Q2 2022, against a profit of 813 million Swiss francs a year ago, hit by a 29% drop in net revenues to 3.64 billion Swiss francs.

"Our results for the second quarter of 2022 are disappointing, especially in the Investment Bank, and were also impacted by higher litigation provisions and other adjusting items," said the Swiss bank's CEO Thomas Gottstein.

"The bank's performance was significantly affected by a number of external factors, including geopolitical, macroeconomic and market headwinds," he added, noting the strength of the client business.

However, the share seems to be resisting - up about 1% in early trading today.



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