The Swiss bank “Credit Suisse” last year worked with a net loss of 7.3 billion francs (approximately the same billion euros), which was the biggest loss since the financial crisis of 2008, according to the bank’s statement published on Thursday
The losses are mainly explained by the costs of restructuring and the decision to stop the operation of businesses unrelated to the bank’s core business.
“Credit Suisse” indicates that restructuring costs will amount to approximately 1.6 billion francs this year, and approximately one billion francs next year.
The bank predicts that this year will also end with losses.
Switzerland’s second largest bank is trying to recover from several scandals. In 2021, it lost more than five billion US dollars after investment company Archegos collapsed, and also had to freeze customer accounts related to defunct financier Greensill Capital.
On the other hand, last October, “Credit Suisse” announced that it would pay 495 million dollars in a settlement in the USA, where the bank was accused of fraud in securities trading.
