Credit Suisse flags weak 2022, ends a torrid year with $2.2-bn Q4 loss

Credit Suisse's horrendous 2021 was marked by the collapse of $10 bn in supply chain finance funds linked to Greensill and a $5.5-bn trading loss from the implosion of investment fund Archegos

Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs.

Though Switzerland's second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected with analysts pointing to slides in revenue across most of its business segments in addition to hefty legal costs for its investment bank. In contrast, many of its rivals have posted robust results.

Credit Suisse also flagged a decline in adjusted pretax income for the first quarter. The bank's shares, which have lost nearly a third of their value