CS suffers trading hit at US arm

摘要

Credit suisse lost almost US$1bn in its US operations last quarter, after being one of five major foreign banks to lose money on their US trading desks, according to results from the country released for the first time this week. Credit Suisse's US business reported a loss of US$942m in the three months to the end of September, after losing US$885m on its trading desk, the bank said in filings released by the US Federal Reserve. Credit Suisse said the overall US loss reflected the impact of the bank's restructuring, including in its non-core unit. That included writedowns and sales of assets in its distressed debt portfolio and litigation provisions. The bank said its core US businesses were stable and profitable, as shown in its second and third-quarter results.