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Credit Suisse reported a net loss of 983 million Swiss francs ($1.05 billion) for 2017 on Tuesday, highlighting writedowns in the U.S. following an overhaul of the country’s tax system.

The Swiss bank said that it paid 2.74 billion Swiss francs in income tax expenses, primarily related to the re-assessment of deferred taxes resulting from the U.S. tax chnages.

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