Credit Suisse axes top bosses’ bonuses after biggest loss since financial crisis

Swiss bank is cutting 9,000 jobs in restructuring programme after series of scandals

Credit Suisse has scrapped its annual bonus for top executives after the scandal-hit Swiss bank reported its worst full-year loss since the 2008 banking crisis.

The lender on Thursday revealed a 7.3bn Swiss francs (£6.6bn) net loss for 2022, as clients withdrew their cash at a dizzying pace and the bank experienced a significant drop in income from its wealth, asset management and investment management divisions.