Archegos

Credit Suisse posts $1.6bn net loss for FY21 as Archegos matter hits earnings

Credit Suisse reports pre-tax loss of CHF 522 million in FY21, impacted by the Archegos matter, goodwill impairment and litigation provisions.

Credit Suisse posted a pre-tax income of CHF 1.0 billion in 3Q21 benefitting from a positive impact relating to Archegos.

An independent investigation into Archegos found a failure to effectively manage risk in Credit Suisse’s Prime Services business.

Nomura will book a loss of about $600 million in the first quarter of the fiscal year ending March 2022.

George Soros bought shares in ViacomCBS, Discovery, and Baidu as they were being sold off during the collapse of Archegos.

Nobody has pointed the finger as some of the world’s largest interbank FX dealers write off astronomical losses from the Archegos disaster.

Nomura booked a loss of 245.7 billion yen ($2.3 billion) in its consolidated financial results for the year ended March 31, 2021.

Swiss FINMA launches enforcement proceedings against Credit Suisse after the bank suffered significant losses in connection with Archegos.

1 2 3