Arab Today, arab today credit suisse posts heavy loss after us tax fine
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Credit Suisse posts heavy loss after US tax fine

Arab Today, arab today

Arab Today, arab today Credit Suisse posts heavy loss after US tax fine

New York offices of Credit Suisse
Zurich - AFP

Credit Suisse Tuesday posted a net second-quarter loss of 700 million Swiss francs (576 million euros, $778 million) as a multi-billion-euro US tax evasion fine sent it deep into the red.
The Swiss banking giant paid a $2.6 billion settlement to US authorities in May over tax evasion charges -- helping thousands of wealthy Americans hide money in offshore accounts to avoid taxes.
Its quarterly losses exceeded the forecasts of analysts who had expected them to reach 600 million Swiss francs. Last year Credit Suisse posted a 1.04-billion-franc profit over the same period.
The US fine heavily impacted the giant's private banking and wealth management divisions, which racked up pre-tax losses of 749 million Swiss francs, the bank said in a statement.
This was offset by corporate banking activities which generated a pre-tax profit of 752 million Swiss francs, on a par with the same period last year but down nine percent since the first quarter.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today credit suisse posts heavy loss after us tax fine Arab Today, arab today credit suisse posts heavy loss after us tax fine

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today credit suisse posts heavy loss after us tax fine Arab Today, arab today credit suisse posts heavy loss after us tax fine

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday