Credit Suisse has forecasted a pre-tax loss of up to CHF 1.5 billion in Q4 2022.

This is due to both challenging market conditions and the “adverse revenue impact” of the Swiss bank’s disclosed exit from non-core businesses and exposures announced in October.

Credit Suisse began experiencing deposit and net asset outflows in early October 2022 at levels that exceeded the rates incurred in Q3 2022.

At group level, at 11 November 2022, net asset outflows were...