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Date Posted: 11:16:50 2/09/23 Thu
Author: Jasper
Subject: Credit Suisse posts biggest loss since 2008 financial crisis

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Since March 2021, the bank's stock has lost more than 75 percent of its value.

In the last quarter, its net loss attributable to shareholders amounted to nearly 1.4 billion Swiss francs -- slightly better than expected.

"A weak fourth quarter concludes a terrible 2022, clearly one of the worst years in Credit Suisse's 167-year history," said Andreas Venditti, an analyst at Swiss investment managers Vontobel, noting that the bank reported losses in seven out of the last nine quarters.

"2024 might bring a turnaround, albeit with likely still minor profits. The transformation to 'new Credit Suisse' will take time."

https://news.yahoo.com/credit-suisse-posts-biggest-loss-075403683.html

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