The latest-quarter results included income tax expenses of CHF2.23 billion, mainly reflecting the re-assessment of deferred tax assets with an associated tax charge of CHF2.3 billion, primarily resulting from the recent reduction in the United States federal corporate tax rate.
"2017 was a crucial year of delivery in our three-year restructuring plan, after 2016, which was a year of deep and radical reorganisation and restructuring", said Credit Suisse CEO, Tidjane, Thiam. The bank posted a loss of 2.1 billion Swiss francs in its fourth quarter due to the writedown, better than the 2.6 billion franc loss reported this time a year ago.
Credit Suisse is getting its house in order.
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Above all, she wants people to take her seriously saying: "Some people think it's physiological; others think it's psychological". According to experts in the field, what she's suffering from is a very real thing and not fabricated in the least.
And, while revenues grew, Credit Suisse also reduced costs by 6% between 2017 and 2016.
Credit Suisse's 2017 loss came on the back of a 2.3 billion franc writedown triggered by US tax reform.
The bank made an annual return on regulatory capital of 3.9 percent. This unit saw an increase of 13 percent year-on-year for its assets under management.
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For the second year, the Episcopal Churches in the Mid-Hudson Valley will be bringing Ash Wednesday to the people. Ashes will also be distributed during a Mass at 9 a.m., a prayer service at 4:30 p.m., and a Mass at 6 p.m.
"Credit Suisse has been responding to requests from certain governmental and regulatory authorities ... regarding Credit Suisse's hiring practices in the Asia-Pacific region and, in particular, whether Credit Suisse hired referrals from government agencies and other state-owned entities in exchange for investment banking business and/or regulatory approvals, in potential violation of the US Foreign Corrupt Practices Act and related civil statutes", the bank said when reporting its full-year results for 2017.
However, 2018 could be the turning point. "We should generate 4 to 5 billion (francs) of surplus in (2018) which can then be distributed".
Credit Suisse, which last week shuttered an obscure anti-volatility product after it incurred massive losses for clients, said trading had surged amid the market ructions in recent weeks.
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There's also " Don't miss the important stuff " to ensure the user does get important messages even when the phone is on silent. The great thing is that you don't actually need to have been formally invited by Google to request access to the Reply app.
The bank said that veteran Richard Thornburgh, a former CSFB investment banker, would not stand for reelection to the board this spring. "Now it is up to Credit Suisse to show alternatives", RBR said in a statement.