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Home»Finance»Credit Suisse has strong capital base and liquidity -CEO memo
Finance

Credit Suisse has strong capital base and liquidity -CEO memo

October 1, 2022No Comments2 Mins Read
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ZURICH, Sept 30 (Reuters) – Credit score Suisse (CSGN.S) has stable capital and liquidity, Chief Govt Ulrich Koerner advised workers in a memo seen by Reuters on Friday and confirmed by a spokesperson for the Swiss financial institution that is because of announce the result of a strategic evaluation subsequent month.

“I do know it isn’t simple to stay targeted amid the various tales you learn within the media – specifically, given the various factually inaccurate statements being made. That mentioned, I belief that you’re not complicated our day-to-day inventory worth efficiency with the sturdy capital base and liquidity place of the financial institution,” he wrote, including that he was unable to share particulars of transformation plans earlier than Oct. 27.

The financial institution had mentioned on Monday it was urgent forward with its evaluation that features potential divestitures and asset gross sales.

Citing individuals conversant in the scenario, Reuters reported final week that Credit score Suisse was sounding out buyers for contemporary money because it makes an attempt a radical overhaul of its funding financial institution.

“We’re within the strategy of reshaping Credit score Suisse for a long-term, sustainable future – with important potential for worth creation. Given the deep franchise now we have, with a long-standing deal with serving a few of the world’s most profitable entrepreneurs, I’m assured now we have what it takes to succeed,” Koerner wrote within the memo.

Credit score Suisse shares, which have fallen by greater than half this 12 months to the touch file lows, gained 3.9% on Friday to shut at 3.976 Swiss francs.

Reporting by Oliver Hirt, writing by Michael Shields; Enhancing by Elaine Hardcastle and Invoice Berkrot

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