Credit Suisse expects 2018 effective tax rate of 40 percent

FILE PHOTO: A worker repairs the logo of Swiss bank Credit Suisse at a branch in Zurich, Switzerland November 1, 2018. REUTERS/Arnd Wiegmann - Copyright ARND WIEGMANN(Reuters)

By Reuters

Published on 06/02/2019 - 07:34•Updated 18/04/2024 - 17:53

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ZURICH (Reuters) - Credit Suisse said on Wednesday it expects an effective tax rate of roughly 40 percent on its 2018 results, up from 36.8 percent rate for the first nine months of the year.

The bank said the figure included an "adverse impact" of approximately 2 percent from its assessment of new U.S. regulations to tackle base erosion on taxes.

(Reporting by John Revil)

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