A view of the logo of Swiss bank Credit Suisse in Zurich, Switzerland, 21 February 2022. EPA-EFE/ENNIO LEANZA
GENEVA, Switzerland - Credit Suisse said Thursday that it expected to post a substantial loss this year after the beleaguered bank reported a net loss of 7.293 billion Swiss francs ($7.93 billion) for 2022.
"In light of the adverse revenue impact from the previously disclosed exit from non-core businesses and exposures as well as, in particular restructuring charges related to our cost transformation, Credit Suisse would also expect the group to report a substantial loss before taxes in 2023," Switzerland's second-biggest bank said in a statement.
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