Credit Suisse expects Q3 loss of $1.6bn from reclassifying loans

ZURICH: Credit Suisse expects to make a third quarter loss of about $1.6 billion from reclassification of loans linked to its non core and legacy businesses, the bank, which is now part of UBS, said on Friday.

Credit Suisse Hong Kong investing banking job cuts, targeting 80%, start this week

In addition, a decision was made to wind down certain management arrangements, which may result in a loss of up to 600 million in the third quarter of this year, the bank added in a financial report.