Credit Suisse cuts its profitability targets for 2019 and 2020
The lender expects to post a loss at its investment banking and capital markets business, but remains upbeat about deals in the pipeline
11 December 2019 - 19:00
Zurich — Less than a year after emerging from a grueling restructuring, Tidjane Thiam is once again confronting missed targets and losses at businesses.
Credit Suisse has cut its main profitability target for 2019 and 2020 as trade tensions and negative interest rates cloud the outlook. Return on tangible equity — a key profitability metric — is set to be higher than 8% in 2019, compared with a previous guidance of between 10% and 11%...
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