by Amruth Sundarkumar | Dec 9, 2022 | Banks
Credit Suisse successfully raised CHF 2.24bn ($2.4bn) via its rights issue as part of its overall $4bn capital raising plan. As per Reuters, Shareholders exercised 98.4% of their subscription rights. CEO Ulrich Koerner said, “It will allow us to further support...
by Amruth Sundarkumar | Dec 7, 2022 | Banks
Credit Suisse’s wealth unit is doling out juicy yields to attract more deposits to recoup some of the ~$90bn of client money that was recently pulled out. In a bid to boost its AUM, it is offering a lowered threshold on balances that are entitled to an interest...
by Amruth Sundarkumar | Dec 5, 2022 | Banks, Financial Institution Bonds
Credit Suisse plans to accelerate cost cuts as part of its overall strategy to reduce its cost base by ~CHF 2.5bn ($2.67bn) through 2025. As per sources, this would involve more job cuts than previously expected as part of its first wave of reductions, including in...
by Amruth Sundarkumar | Dec 2, 2022 | Banks
Credit Suisse’s CEO Axel Lehmann said that outflows witnessed by the bank since the beginning of October have reversed with clients starting to return to the bank. He said, “The good part of the sad story is we had very few clients leaving. They are still...
by Amruth Sundarkumar | Dec 1, 2022 | Banks, Global
March 20, 2023: Credit Suisse’s CDS Spreads Jump to ~1,000bp levels Credit Suisse CDS (credit default swap) spreads spiked to new record highs of ~975bp, up over 400bp on 15 March alone. CDS are derivative contracts used to protect against default – thus an...
