Credit Suisse’s credit loss provisions fall 69% in Q2
Provisions for credit losses (PCLS) taken by Credit Suisse in Q2 were the lowest for three years, at Sfr25 million ($25 million).
This compares with PCLs of Sfr81 million in Q1 and Sfr73 million the year-ago quarter.
Its Swiss unit posted the largest quarter-on-quarter decrease, with PCLs down to Sfr10 million from Sfr29 million in Q1.
The global markets business took Sfr2 million of provisions, down from Sfr11 million in Q1; the investment bank took Sfr1 million, down from Sfr8 million; the
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