Credit Suisse Q4 outlook worsens with $1.6bn losses projected

Credit Suisse has updated its Q4 2022 outlook with further expected losses of pre-tax of SFr1.5bn ($1.6bn). In a note published today (23 November) the bank said its outlook has been dampened by a "substantial industry-wide slowdown" in capital markets, which had contributed to net asset outflows of 6% in Q3. The bank also said its wealth management sector was now expected to post a loss after net interest income took a knock from lower deposits and fees. Stock Spotlight: Can Credit Suisse sail through scandal? It said the wealth management outflows have "reduced substantially" ...