Credit Suisse’s Problems Mount as Lender Warns of Fourth Quarter Loss

Credit Suisse’s Problems Mount as Lender Warns of Fourth Quarter Loss
The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, on Nov. 3, 2021. Arnd WIegmann/Reuters
Reuters
Updated:

ZURICH—Credit Suisse warned on Tuesday that it would post a fourth-quarter loss as the scandal-hit lender flagged fresh legal costs and said business in its trading and wealth management divisions had slowed.

Switzerland’s second-largest lender announced plans in November to rein in its investment bankers and plough money into looking after the fortunes of the world’s rich as it tries to curb a freewheeling culture that has cost it billions.