(Bloomberg) -- Credit Suisse Group AG said it will book more charges for legal matters in the fourth quarter and warned of outflows in its key wealth business as it closes out a year marred by scandals and turmoil at the top.

The lender will set aside 500 million francs ($546 million) for litigation stemming primarily from its investment banking business, which will post a loss in the period, Switzerland’s second-biggest bank said in a statement Tuesday. The key wealth business saw net outflows as client activity slowed globally and in Asia.

The performance issues and additional charges cap a year that has seen the lender reel from the collapse of Archegos Capital Management and Greensill Capital. A reboot under star banker Antonio Horta-Osorio has been thrown into doubt after he was ousted as chairman nine months into his role for breaching quarantine rules.

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Credit Suisse already warned in November that it will post a net loss on the back of a 1.6 billion-franc impairment tied to its restructuring. The new charges will further weigh on results, though the bank said it expects to break even on a pretax level in the fourth quarter.

The new provisions come from a “number of cases where the Group has more proactively pursued settlements,”  Credit Suisse said Tuesday, without giving detail on what litigation is covered by the charge.


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