A logo is pictured on the Credit Suisse bank in Geneva, Switzerland, February 22, 2023. REUTERS/Denis Balibouse//File PhotoRIYADH, March 15 - The head of Credit Suisse Group's largest shareholder, Saudi National Bank "We cannot because we would go above 10%. It’s a regulatory issue," SNB chairman Ammar Al Khudairy said in an interview with Reuters. The Saudi bank holds a 9.88% stake in Credit Suisse, according to Refinitiv data.
Trading in the Swiss bank's shares was halted late morning as they fell by a fifth to fresh record lows, having been pummelled earlier in the week in market fallout from the collapse of Silicon Valley BankSwitzerland'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 .
Al Khudairy said SNB was happy with Credit Suisse's turnaround plan and did not think it would need more money, but also described his bank's investment as an opportunistic one that was not time-dependent. The Saudi bank would exit when proper value to the shares had been acquired, he added.
Goldman & Chase will be the only banks left after this is over
Let the bank collapse jour!!!
It's joever
Credit Suisse is the biggest boom-bust investment bank of them all. Time to make a call! If they survive this then it is the buy of the century! Do they survive? Place your chips on the table please!
Closer to a third now...
RIP Credit S.
Credit Schussssssssssssssssssssssssssssssss... $CS
Lol
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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.
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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
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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
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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.
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Credit Suisse Finds ‘Material Weaknesses’ In Its Financial Reporting ProcessThe bank said its financial reports for 2021 and 2022 were not affected by the problem. They are a joke ... and they are the ones rating everyone. They should be at 0 too. Really Interesting. No — not really. This are the same people famous for being detailed oriented. This is a smoke screen for their continued mismanagement. Nothing more. wolsned Bond market is crumbling according to Robert Kiyosaki and then the Dollar will be just paper👍 invest your money into precious metals before it’s too late
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