by Amruth Sundarkumar | Jun 3, 2021 | Banks
Credit Suisse (CS) is preparing a lawsuit against SoftBank regarding Greensill Capital’s failure in February that could see CS’s clients lose upto $3bn. Greensill’s largest investor was SoftBank’s Vision Fund. CS disputes that $440mn in funds were owed to their...
by bondevalue | Apr 23, 2021 | Financial Institutions, Investment Grade Bonds
Credit Suisse reported its Q1 earnings with net losses of CHF 252mn ($275mn). CS said the losses reflected a “significant charge with respect to the US-based hedge fund matter in 1Q21, offsetting positive performance across wealth management and investment banking”....
by bondevalue | Apr 7, 2021 | Financial Institution Bonds
Credit Suisse (CS) revealed a massive $4.7bn writedown tied to the Archegos Capital fiasco. With this, the bank also let go of at least seven senior executives, traders and risk managers. This would see the bank report an estimated first quarter loss of ~$960mn after...
by bondevalue | Apr 6, 2021 | Financial Institution Bonds
After the recent Archegos Capital related collapse impacting Credit Suisse’s financials, ET reports that CS has unloaded about $2.3bn of stock tied to Archegos yesterday to salvage some of its expected losses. The sale comprised about 34mn shares in ViacomCBS, 14mn...
by bondevalue | Mar 17, 2021 | Financial Institution Bonds
Swiss banking major Credit Suisse (CS) warned of having to book a charge over its dealings with Greensill Capital. Reuters notes that CS had about $10bn of supply-chain finance funds that bought into Greensill’s notes/bonds. Besides, CS is trying to recoup a $140mn...
