Credit Suisse’s Legal Charges Threaten Recovery

Swiss lender says it has taken measures to improve its risk culture, which is at the root of many of its legal woes

Credit Suisse’s legal charges have outstripped those at other banks.Photo: Stefan Wermuth/Bloomberg News

Credit Suisse Group AG’s multibillion-dollar legal bills are posing another threat to its planned recovery.

The Swiss bank has taken around $4 billion in litigation provisions since 2020, contributing to net losses in 2021 and 2022. In February, it estimated up to another $1.3 billion looks reasonably possible.

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