Credit Suisse doubles litigation provisions

April, 04 2014

Credit Suisse has increased its litigation from US$1.3b to US2.6b in its 2013 annual results.

Credit Suisse has doubled it's litigation provisions, reflecting numerous pending legal actions Pincasso

The provisions reflect numerous pending legal actions including those on mortgage-related litigation and discussions with the US Ministry of Justice over the tax status of US clients who hid their money with the bank. There is speculation that a settlement could soon be announced with the Justice Ministry. Source: Reuters