Tag: Credit Suisse

Credit Suisse
April 24, 2023 BY Steffy Bogdanova

Credit Suisse reports CHF 1.3 billion losses in Q1

The bank’s adjusted net revenue stood at CHF 2.8 billion, registering a 40% decline compared to the first quarter in 2022. The adjusted pre-tax loss came in at CHF 1.3 billion for Q1, increasing by CHF 300 million compared to the previous quarter. The official announcement detailed that significant deposit and net asset outflows impacted…

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Credit Suisse
March 20, 2023 BY Steffy Bogdanova

UBS-Credit Suisse’s acquisition deal triggers global markets backlash

Regulators elsewhere are attempting to minimize the damage, and the European Banking Authority, The Single Resolution Board, and the ECB Banking Supervision committee issued a joint statement. They said: The resolution framework implementing in the European Union the reforms recommended by the Financial Stability Board after the Great Financial Crisis has established, among others, the…

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Credit Suisse
March 20, 2023 BY Steffy Bogdanova

UBS to acquire Credit Suisse for more than $3 billion

UBS Chairman Colm Kelleher said: This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. Acquiring Credit Suisse’s capabilities in wealth, asset…

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Credit Suisse
March 16, 2023 BY Steffy Bogdanova

Credit Suisse borrows CHF 50 billion to avert liquidity crisis

In the US, the government took emergency steps to give banks more funding to weather the crisis. On Wednesday, however, the focus shifted to Europe, where Credit Swisse falling shares took down the European banking index. Credit Suisse is the first major global bank to receive such an emergency lifeline since the financial crisis in…

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Credit Suisse
November 23, 2022 BY Steffy Bogdanova

Credit Suisse expects CHF1.5 billion pre-tax loss in Q4

In July, the bank appointed Ulrich Körner new Group Chief Executive Officer to replace Thomas Gottstein. Credit Suisse noted that client activities have been impacted by economic challenges and market environment. The bank stated: The Investment Bank has been impacted by the substantial industry-wide slowdown in capital markets and reduced activity in the Sales &…

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Credit Suisse
October 24, 2022 BY Steffy Bogdanova

Credit Suisse to pay $234 million settlement in France

According to the prosecution, the alleged scheme took place between 2005 and 2012 and spread through several countries and reportedly and cost the French state over €100 million of "fiscal damage". Credit Suisse said in a press statement: The settlement provides for a public interest fine comprising a profit disgorgement of EUR 65.6 million and…

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Credit Suisse
August 22, 2022 BY Steffy Bogdanova

Credit Suisse reveals new appointments to executive board

Joshi’s career spans three decades. During this time, he held various senior investment banking roles across different regions, helping oversee a series of businesses as well as complex transformation projects. Francesca McDonagh will start her new role as Group COO on 19 September 2022. In her new position, she will support the Group CEO in…

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