Credit Suisse to Post Fourth-Quarter Loss

8 enero, 2021

A Credit Suisse logo is displayed at entrance to a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Wednesday, Oct. 30, 2019. Credit Suisse’s third-quarter results were boosted by gains at the key trading unit, bringing relief to Chief Executive Officer Tidjane Thiam as he seeks to emerge from a spying scandal that dented the bank’s reputation and cost him a key lieutenant. Photographer: Stefan Wermuth/Bloomberg
A Credit Suisse logo is displayed at entrance to a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Wednesday, Oct. 30, 2019. Credit Suisse’s third-quarter results were boosted by gains at the key trading unit, bringing relief to Chief Executive Officer Tidjane Thiam as he seeks to emerge from a spying scandal that dented the bank’s reputation and cost him a key lieutenant. Photographer: Stefan Wermuth/Bloomberg (Stefan Wermuth/)

(Bloomberg) — Credit Suisse Group AG said it will post a fourth-quarter loss as it sets aside an additional $850 million to cover potential settlements related to residential mortgage backed securities.

The provisions, to be reflected in fourth-quarter results, cover a legal dispute in New York as well as other potential cases related to residential mortgage-backed securities, the Swiss bank said in a statement on Friday.



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