Credit Suisse\n \n has reported its biggest annual loss since the financial crisis in 2008, highlighting the scale of the challenge facing the scandal-plagued Swiss bank as it attempts a turnaround. The lender on Thursday posted a loss of 1.4 billion Swiss francs in the fourth quarter of 2022, extending a losing streak that started in 2021 and taking its full-year loss to 7.3 billion Swiss francs . In 2008, Credit Suisse made a loss of 8.2 billion Swiss francs .
For example, the collapse of US hedge fund Archegos Capital Management, a client of Credit Suisse, in 2021 cost the bank $5.5 billion. An independent external investigation later found “a failure to effectively manage risk.” Credit Suisse has since embarked on a major restructuring plan that entails cutting 9,000 full-time jobs, spinning off its investment bank and focusing on wealth management. In a step towards this, the company announced Thursday the acquisition of M.
The so called bank who houses money from white colored criminals…
Hey, check this
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
La source: CNBC - 🏆 12. / 72 Lire la suite »