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Credit Suisse Slumps After Warning of Third Straight Loss

  • Swiss bank gives sixth profit warning in seven quarters
  • The bank is said to be planning a fresh round of job cuts
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Credit Suisse Sees Group, Investment Bank Loss in Second Quarter
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Credit Suisse Group AG said a slump at its investment bank will lead to a third straight quarterly loss as it blamed volatile markets and clients cutting back on risk.

Shares of the troubled Swiss lender fell as much as 7.6% in Zurich trading after warning that results in the second quarter were impacted by clients pulling back, particularly in Asia. The firm is also weighing a fresh round of job cuts as it pledged to accelerate its effort to reduce expenses, people familiar with the matter said.