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This was the biggest loss since the 2008 financial crisis, when Credit Suisse suffered a loss of more than eight billion Swiss francs (8.1 billion euros).

In the last quarter of 2022 alone, Switzerland's second largest bank recorded capital withdrawals of CHF 110.5 billion (112 billion euros), the institution said in a press release, quoted by the newspaper Económico.

In a year of continuous upheaval, Credit Suisse announced in November the departure of its then head of compliance, Rafael Lopez, who was replaced by Nita Patel, who was responsible for identifying business and legal risks for the bank.

In January 2022, the bank's then president António Horta Osório resigned after it was revealed that he had not respected a quarantine during the Covid-19 pandemic. In April, vice-president Severin Schwann left the bank and in July, it was the turn of Thomas Gottstein, until then CEO of the institution.

In the last quarter of 2022, Credit Suisse recorded a loss of almost 1.4 billion Swiss francs (1.42 billion euros), less than had been feared. Analysts told Swiss news agency AWP they had expected an average loss of 1.44 billion Swiss francs.

In November, the bank issued a profit warning about lower activity in the capital markets, large withdrawals of customer deposits and restructuring costs, which could reach 1.6 billion Swiss francs (1.6 billion euros) in 2023 and 1 billion in 2024.

Plunged into a serious financial and image crisis, Credit Suisse also announced in November a reduction in the workforce by the equivalent of 9,000 full-time jobs, equivalent to 17% of the total number of employees, as part of the restructuring and recovery plan.

The aim is to reduce the number of staff at the Zurich-based bank from 52,000 full-time equivalent positions to 43,000 by 2025, according to the restructuring plan, which also includes capital increases and a complete transformation of the troubled investment banking business.