Credit Suisse expects pre-tax loss of up to 1.5 billion Sfr in Q4

The profit warning is a blow for the bank which had previously said it expected to make a net loss during the last three months of the year but did not give a figure

Credit Suisse expects to make a pre tax loss of up to 1.5 billion Swiss francs ($1.58 billion) during its fourth quarter, the embattled Swiss bank said, as it prepares to ask shareholders permission for a $4 billion equity hike.

The profit warning on Wednesday is a blow for the bank which had previously said it expected to make a net loss during the last three months of the year but did not give a figure.

Credit Suisse is due to hold an Extraordinary General Meeting later on Wednesday where it will seek approval for the capital increase to fund