Credit Suisse restates results as it winds down some businesses

Bank is focusing on ultra high net worth clients

Tuesday 7 January 2014 at 16:01

Credit Suisse has divvied up old financial results to reflect the Swiss bank's newer efforts to wind down some businesses and navigate through a relatively challenging period.

On Tuesday, Credit Suisse released restated results stretching back to the beginning of 2011 that reflect the bank's effort to shift some unwanted businesses into so-called non-strategic units. Those units will also serve as repositories for legal costs related to the Zurich-based lender's dealings with US authorities cracking down on tax evasion and other matters.