Credit Suisse expects fourth-quarter gain from SIX Group stake accounting
Reuters
Published Dec 20, 2019 01:43AM ET
Credit Suisse expects fourth-quarter gain from SIX Group stake accounting
ZURICH (Reuters) - Credit Suisse (S:CSGN) said it expects to book a pre-tax gain of at least 450 million Swiss francs ($459.6 million) in the fourth quarter of 2019 from the revised accounting treatment of its stake in financial infrastructure company SIX Group.
"The gain is expected to add approximately 10 (basis points) to Credit Suisse's year-end 2019 CET1 ratio. This is a change in the accounting basis only and Credit Suisse remains a supportive long-term shareholder of SIX Group AG, having increased its holding to 15% in recent years," the bank said on Friday.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.