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Credit Suisse suffers nearly CHF100bn of net outflows in 2022

Swiss lender Credit Suisse suffered almost CHF100 billion in outflows from its wealth management business in 2022, as clients withdrew their deposits amid a major strategic overhaul. Announcing its full-year earnings on Thursday, Credit Suisse said there were CHF92.7 billion of wealth management outflows during 4Q2022. The majority of these were outflows of deposits, the bank said, and about two-thirds…

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