Credit Suisse issues profit warning for second quarter


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

Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening squeeze its investment bank.

In a trading update early Wednesday morning, the embattled lender said the geopolitical situation, significant monetary tightening from major central banks in response to soaring inflation, and the unwinding of Covid-19 era stimulus measures had caused “continued heightened market volatility, weak customer flows and ongoing client deleveraging, notably in the…

Source cnbc.com

0 0 votes
Article Rating

Mortgage demand falls to the lowest level in 22 years

Previous article

Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings