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Credit Suisse expects pre-tax loss of up to 1.5 billion Sfr in Q4

The profit warning is a blow for the bank which had previously said it expected to make a net loss during the last three months of the year but did not give a figure

Credit Suisse
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Photo: Bloomberg

Reuters Zurich
Credit Suisse expects to make a pre tax loss of up to 1.5 billion Swiss francs ($1.58 billion) during its fourth quarter, the embattled Swiss bank said, as it prepares to ask shareholders permission for a $4 billion equity hike.

The profit warning on Wednesday is a blow for the bank which had previously said it expected to make a net loss during the last three months of the year but did not give a figure.

Credit Suisse is due to hold an Extraordinary General Meeting later on Wednesday where it will seek approval for the capital increase to fund

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 23 2022 | 2:02 PM IST

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