5 Min Read
ZURICH (Reuters) - Credit Suisse on Thursday said it plans to up lending volumes and capitalise on a boom in share listings to shore up revenue, after low interest rates and legal charges tipped the bank into the red in the fourth quarter.
FILE PHOTO: A logo of Credit Suisse is pictured on a building in Geneva, Switzerland, November 8, 2017. REUTERS/Denis Balibouse/File Photo
Switzerland’s second-largest lender posted a 353 million Swiss franc ($392.8 million) net loss for the last quarter after booking 757 million francs in legal charges, beating analysts’ forecasts for a 566 million franc loss but leaving annual profit down 22%.
5 Min Read
ZURICH (Reuters) - Credit Suisse on Thursday said it plans to up lending volumes and capitalise on a boom in share listings to shore up revenue, after low interest rates and legal charges tipped the bank into the red in the fourth quarter.
FILE PHOTO: A logo of Credit Suisse is pictured on a building in Geneva, Switzerland, November 8, 2017. REUTERS/Denis Balibouse/File Photo
Switzerland’s second-largest lender posted a 353 million Swiss franc ($392.8 million) net loss for the last quarter after booking 757 million francs in legal charges, beating analysts’ forecasts for a 566 million franc loss but leaving annual profit down 22%.
Credit Suisse on Thursday said it plans to up lending volumes and capitalise on a boom in share listings to shore up revenue, after low interest rates and legal charges tipped the bank into the red in the fourth quarter.
Analysis
International recovery will take longer than Sir Tim Clark, president of Emirates Airline, first thought. With the focus now on controlling the spread, it’s not possible to think of operating fleets at the levels they had hoped.
Apart from the US, Sir Tim does not see the sector-specific aid that needs to go into the perfectly good businesses to help them survive. They have good business models – just no passengers.
Sir Tim believes it’s a good time to sort out a lot of the issues that have been niggling for a long time. There is an opportunity to think about how you would go about improving the way you manage those particular aspects of your business.