The bank also announced another set of top management departures and said that Bank of Ireland CEO Francesca McDonagh will take up the role of CEO of the Europe, Middle East and Africa region of Credit Suisse by October.
The loss, which Credit Suisse had warned about last week, was steeper than the 252 million franc loss it posted a year before and marked its fourth quarter in the red out of the last six."These conditions, together with the impact from our reduction in risk appetite in 2021 as we took decisive actions to strengthen our overall risk and controls foundation, had an adverse impact on our net revenues," chief executive Thomas Gottstein said.
A Bermuda court in March also ruled a local arm of the lender owed billionaire Bidzina Ivanishvili"substantially in excess of $500m" over a long-running fraud committed by a former adviser.