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SNB’s chairman, Ammar Al Khudairy, said Credit Suisse was “a very strong bank” and was unlikely to need more cash after raising 4bn Swiss francs (£3.59bn) to fund a major restructuring plan ...
The final deal to purchase Credit Suisse for CHF 3 billion ($3.2 billion) was accepted by the board of Credit Suisse prior to the opening of Asian financial markets on Monday morning. The acquisition was an all-stock deal, with Credit Suisse shareholders receiving 1 UBS share per 22.48 Credit Suisse shares, equivalent to CHF 0.76 per share.
Credit Suisse Group AG (NYSE: CS) shares fell Friday premarket after reports that the company is looking to raise fresh capital. The Swiss bank is approaching the investors for the fourth time in ...
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One month before the events in the United States, Credit Suisse had announced its largest annual loss since the 2008 financial crisis, as clients continued withdrawing their cash at a rapid pace; $147 billion had been withdrawn in the fourth quarter of 2022. It also disclosed it had found "material weaknesses" in its financial reporting.
Credit Suisse Group AG and Japan's Nomura Holdings Inc took the main hit, with reported losses of $5.5 billion and $2 billion, respectively. [30] On April 27, 2021, UBS Group AG, Switzerland's biggest bank by assets, reported that it lost $774 million in connection with Archegos’ failure.
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Credit Suisse publishes its investment advice in four publications: Compass, Viewpoints, Research and the Credit Suisse Investment Committee Report. [134] On 5 May 2023, Credit Suisse announced it would buy Ecuadorian bonds worth $1.6 billion in a debt-for-nature swap that costs the Swiss bank only $644 million.