Credit Suisse Risks 3rd Straight Loss on Trump Tax Overhaul
- Swiss Lender estimates a hit of about 2.3 billion francs
- U.S. tax reform cuts corporate burden, triggers writedowns
Hodge Says Tax Bill Is Pro-Business and Pro-Worker
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Credit Suisse Group AG is at risk of posting a third consecutive annual loss after predicting it will take a 2.3 billion-francs ($2.33 billion) hit from a U.S. tax overhaul signed into law by President Donald Trump.
Unless the Zurich-based bank made significantly more than 1 billion francs in the final quarter of this year, the writedown could trigger yet another yearly deficit for the lender, which had a net income position of 1.14 billion francs after nine months.