Credit Suisse Q3 Pre-tax Profit Climbs; Sees Net Loss In Q4; To Exit Prime Services

Swiss lender Credit Suisse reported Thursday weak net profit in its third quarter, while profit before tax climbed on good revenue growth. Looking ahead, the company said it expects a net loss in the fourth quarter, and a further reduction in market volumes for the remainder of 2021 as the trading environment normalizes. Separately, Credit Suisse announced its Group strategy.