Credit Suisse delays release of its annual report after SEC notice

MADRID, 9 Mar.

Credit Suisse delays release of its annual report after SEC notice

MADRID, 9 Mar. (EUROPA PRESS) -

Credit Suisse Group announced Thursday that it will delay the release of its 2022 annual report, after receiving a last-minute notice of technical issues from the US Securities and Exchange Commission on the night of March 8. .(SEC).

As explained by the Swiss bank, this call would be related to certain comments by the SEC on the technical evaluation of the previously disclosed revisions to the consolidated cash flow statements for the years ended December 31, 2020 and 2019, as well as regarding of the related controls.

In this sense, Credit Suisse management "considers it prudent to briefly delay the publication of its accounts to better understand the comments received."

In any case, the Swiss entity has confirmed that its financial results for 2022, published on February 9, "are not affected by the above".

Credit Suisse recorded net losses of 7,293 million Swiss francs (7,381 million euros) at the end of 2022, which is more than four times the 'red numbers' of 1,650 million francs (1,670 million euros) of the previous year and the Swiss bank's worst result since the 2008 financial crisis.

Credit Suisse's result reflected an adverse impact of 3.7 billion francs (3.745 million euros) from deferred taxes related to the bank's strategic review, accounted for in the third quarter of 2022.

Likewise, the entity warned that it expects to report "a substantial loss before taxes in 2023", depending on different factors.

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