7/27/2022, 6:53 AM (Source: TeleTrader)
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Credit Suisse posts Q2 revenue of $3.8B

Credit Suisse Group AG announced on Wednesday that its revenue in the second quarter of 2022 fell by 29% on an annual basis to 3.64 billion Swiss francs (~$3.8 billion).

During the same period, the company's net loss went up from last year's 350 million Swiss francs (~$378 million) to 1.17 billion Swiss francs (~$1.2 billion), as its basic loss per share for the three months ended at 0.60 Swiss francs (~$0.62), in contrast with the EPS of 0.10 Swiss francs for the same quarter of 2021.

"The bank’s performance was significantly affected by a number of external factors, including geopolitical, macroeconomic and market headwinds," said current Chief Executive Officer Thomas Gottstein, announcing his expected resignation. "It has been an absolute privilege and honor to serve Credit Suisse over these past 23 years. It has been my passion since day one to deliver best-in-class service to our clients."

Baha Breaking News (BBN) / NL