Credit Suisse bank records biggest quarterly loss

A record US tax fine has resulted in a major loss for Swiss lender Credit Suisse in the second quarter, its earnings report showed on Tuesday.
Switzerland's second biggest bank made a loss of 700 million Swiss francs (779 million dollars), the biggest since the financial crisis, Credit Suisse said in Zurich.
The bank had recorded a profit of 1.05 billion francs in the first quarter of 2014, the (dpa) reported.
The bank settled its tax row with US authorities in May, resulting in a record fine of 2.6 billion dollars and the admission that Credit Suisse had helped US citizens evade taxes.