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Credit Suisse expects profit this year -CEO tells Swiss newspaper -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A branch of Swiss bank Credit Suisse, Zurich, Switzerland is seen with the logo, on November 3, 2021. REUTERS/Arnd WIegmann

ZURICH (Reuters). Credit Suisse (SIX?) plans to turn a profit in the coming year, Thomas Gottstein, Chief Executive of SIX said Friday in an interview that was published by Swiss newspaper Finanz und Wirtschaft.

“We anticipate a profit for 2022. However, uncertainty factors, such as Russia and China, inflation, and the interest rate environment, are very difficult to evaluate,” he stated.

The scandals at Switzerland’s second largest bank have been a constant problem over the last year. Last week, they reported a loss of $2.2 billion in quarterly earnings and stated that 2022 earnings will be reduced by restructuring costs and compensatory expenses.

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