Credit Suisse warned it would lose around $1.6bn in the fourth quarter after customers pulled their investments and deposits over concerns about the bank’s financial health.

Switzerland’s second biggest bank by assets said outflows were around 6% of its total $1.47tn assets, or around $88.3bn, between 30 September and 11 November. Customers in its wealth-management arm — its main business serving the world’s rich — removed $66.7bn from the bank. Credit Suisse in late October said a social-media frenzy around its health was causing large outflows.