On Tuesday morning, Credit Suisse released what is now called a trading update, ahead of fourth-quarter 2021 results due on February 10.
Euromoney remembers when these unscheduled partial disclosures were called profit warnings and usually prepared the stock market for losses.
To be fair, the bank says it won’t report a loss for the fourth quarter. It will break even.
This comes after SFr500 million of new litigation provisions, partly off-set by a SFr225 million gain on real-estate sales.
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