A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021.
Thi My Lien Nguyen | Bloomberg | Getty Images
LONDON — Credit Suisse on Thursday announced that it swung to a loss in 2021, after a tumultuous year led to a significant increase in litigation provisions.
The Swiss lender posted a full-year net loss of 1.57 billion Swiss francs ($1.7 billion), well below expectations of a 377.95 million Swiss franc loss, according to Refinitiv. The bank reported a fourth quarter net loss attributable to shareholders of 2.01 billion Swiss francs. Analysts had expected a profit of 25.73 million Swiss francs.
The bank said it took “major…