Credit Suisse flagged a weak 2022. The Swiss lender capped the year with a $2.2 billion quarterly loss
Credit Suisse has denied wrongdoing in the Bulgarian case.
Tasked with reforming the bank's freewheeling corporate culture, Chairman Axel Lehmann has said he wants to stick with his predecessor's strategy of focusing on wealth management, noting customer business remained excellent at the time of his appointment in January. Fixed income and sales & trading revenue tumbled 38% year on year while equity sales & trading revenues slid 26% as a result of the bank's exit from prime services announced in November. Capital markets revenue plunged 48%, while advisory revenue surged 51%.
For the full year, inflows fell across all of its divisions, while its international wealth management division saw outflows of 1.1 billion francs.
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