Credit Suisse posts 4Q loss of $1.51 billion, sees further losses in 2023
Credit Suisse Group AG notched up its fifth-straight quarterly loss in the last three months of 2022 after clients pulled billions in deposits from its wealth-management business, and flagged a further full-year loss in 2023.
A company-compiled consensus forecast had expected a net loss of CHF1.34 billion on revenue of CHF3.15 billion. It came after the Zurich-based company experienced deposit and net-asset outflows in October as social-media reports and a spike in credit-default swaps caused a frenzy over the bank's financial position.
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