The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann/File Photoshares slid on Wednesday, dropping by as much as 10.5% to a new record low, as its largest investor said it could not provide the Swiss bank with more financial assistance.chairman Ammar Al Khudairy saidThe Saudi lender acquired a stake of almost 10% last year after it took part in Credit Suisse's capital raising and committed to investing up to 1.
Credit Suisse on Tuesday published its annual report for 2022 saying the bank had identified "material weaknesses" in controls over financial reporting and not yet stemmed customer outflows. Switzerland's second-biggest bank is seeking to recover from a string of scandals that have undermined the confidence of investors and clients. Customer outflows in the fourth quarter rose to more than 110 billion Swiss francs .
TimModise Monopoly Capitalism: not necessarily OneBigImplosion but an irreversible decline in fits and starts
How can they “ focus on global wealth management” if they lost 8 Billion of their own money?
They survived 167 years because of so-called 'Swiss bank secrecy.' Now, when there is no more inflow of 'dirty' money, the capable Swiss bankers cannot put their act together.
saudis can’t go over 10%
Corrupt CreditSuisse was dishing out credit rankings based on bias, prejudice & hate. Karma hits such companies.
Swiss must not be used. Anytime, anywhere, by anybody!
Hit Like if you think Credit Suisse will be the next bank to collapse.
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Credit Suisse downgrades Logitech, says there's little hope for growth aheadThere's little hope for growth for Logitech this year, according to Credit Suisse. Credit Swiss downgrades another company!!!! I wonder what hope ahead is for Credit Suisse? Everyone else down grades $CS
Source: CNBC - 🏆 12. / 72 Read more »
Credit Suisse says outflows have stabilized but not reversedCredit Suisse said customer 'outflows stabilized to much lower levels but had not yet reversed as of the date of this report' in its 2022 annual report published on Tuesday. This means it hasn’t This bank is done. Market should insta exit this AM. Not just the banking sector.
Source: Reuters - 🏆 2. / 97 Read more »
Credit Suisse finds 'material weaknesses' in financial reporting, says outflows 'not yet reversed'Credit Suisse said its net asset outflows had 'not yet reversed,' and that 'material weaknesses' were identified in its financial reporting processes. So I don't understand what happened? I've been pointing out the issues at Credit Suisse for years. Can someone explain the 1yr downtrending of $cs? I don't get it
Source: CNBC - 🏆 12. / 72 Read more »
Credit Suisse publishes delayed annual report in which it admits to financial control weaknessesCredit Suisse on Tuesday published its delayed annual report -- which describes material weaknesses in its financial controls -- as it also announced it... They are 100x worse than Signature Bank..Watch the bank run today
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Credit Suisse executive board will not receive a bonus for 2022Credit Suisse group's executive board took home 32.2 million Swiss francs ($35.27 million) in fixed compensation while collectively forgoing a bonus for the first time in more than 15 years, the Swiss bank said in its annual report published on Tuesday. They already cashed out. You'll here about it in a couple of days RNA story, covid, BIO. But wait SVB did
Source: Reuters - 🏆 2. / 97 Read more »
Credit Suisse flags 'material weaknesses' in financial reportingCredit Suisse released its delayed annual report on Tuesday in which it identified 'material weaknesses' in its internal controls over financial reporting and said it had not yet stemmed customer outflows. It seems everyone was looking forward to hearing an insolvency of any bank. It is necessary to block more Russian assets, and it will help immediately! Trying to provoke a run on a bank.
Source: Reuters - 🏆 2. / 97 Read more »