UK markets closed
  • FTSE 100

    7,557.60
    -0.89 (-0.01%)
     
  • FTSE 250

    19,383.46
    -25.96 (-0.13%)
     
  • AIM

    854.63
    +4.07 (+0.48%)
     
  • GBP/EUR

    1.1671
    +0.0028 (+0.24%)
     
  • GBP/USD

    1.2274
    +0.0018 (+0.14%)
     
  • BTC-GBP

    13,784.76
    -118.39 (-0.85%)
     
  • CMC Crypto 200

    401.46
    +0.03 (+0.01%)
     
  • S&P 500

    4,055.99
    -20.58 (-0.50%)
     
  • DOW

    34,314.04
    -80.97 (-0.24%)
     
  • CRUDE OIL

    81.07
    -0.15 (-0.18%)
     
  • GOLD FUTURES

    1,804.20
    -11.00 (-0.61%)
     
  • NIKKEI 225

    27,777.90
    -448.18 (-1.59%)
     
  • HANG SENG

    18,675.35
    -61.09 (-0.33%)
     
  • DAX

    14,521.79
    +31.49 (+0.22%)
     
  • CAC 40

    6,738.03
    -15.94 (-0.24%)
     

Credit Suisse posts Q3 loss of 4 billion Swiss francs

FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich

ZURICH (Reuters) - Credit Suisse Group lost 4 billion Swiss francs ($4.06 billion) in the third quarter, badly missing the average estimate of 413 million francs in a consensus compiled by the embattled Swiss bank which also unveiled its new strategy.

It booked a 3.7 billion franc impairment on deferred tax assets related to the strategy review.

Switzerland's second-biggest bank saw a group net asset outflow of 12.9 billion Swiss francs in the quarter in "challenging" markets and as negative headlines swirled about the bank's efforts to restructure after a series of scandals and risk-management failures.

Its CET1 capital ratio fell to 12.6% from 13.5% at the end of June. Analysts had expected 13.4%.

($1 = 0.9864 Swiss francs)

(Reporting by Michael Shields; Editing by Noele Illien)