Credit Suisse / UBS Shotgun Marriage
The Young Investors Podcast
00:00
The Effect of Bank Scandals on Business Performance
It's not caught up in RK ghosts. That was a fail to stop money laundering by a Bulgarian cocaine trafficking gang. It definitely erodes confidence, which is not what you want if you're a bank. Deposits dropped 40% in 2022. Total assets dropped 30%. And their net loss on their earnings for 2022 was 7 billion US dollars. So yeah, there were basically a disaster.
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