CSuisse says swings to quarterly net loss on U.S. tax settlement
ZURICH, July 22
ZURICH, July 22 (Reuters) - Credit Suisse reported its biggest quarterly loss since the collapse of Lehman Brothers in 2008, due to a 1.6 billion Swiss franc ($1.78 billion) charge taken following a May settlement with U.S. authorities over tax evasion charges.
The Zurich-based bank swung to a second-quarter loss of 700 million francs. A Reuters analyst poll called for a 581 million franc net loss.
"I want to reiterate that we deeply regret the past misconduct that led to this settlement and that we take full responsibility for it," Credit Suisse Chief Executive Brady Dougan said in a statement.
"The continued trust and support of our clients helped us mitigate the impact of the settlement on our business." ($1 = 0.8979 Swiss Francs) (Reporting By Katharina Bart)
- Scots vote on independence, United Kingdom's fate on knife edge |
- Australian PM says police raids follow IS linked beheading plot |
- Divided, Scots prepare to vote on fate of the United Kingdom |
- IMF warns of risks from 'excessive' financial market bets
- Dollar hits six-year peak versus yen, ECB loan demand disappoints