While there is no material impact on Indian markets due to Credit Suisse, the sentimental impact is obvious, three analysts said.
"Whenever a bank opts for emergency funding it means things are really bad, as an emergency fund is the last resort," said Avinash Gorakshakar, head of research at Profitmart Securities. Gaurav Dua, head of capital market strategy at Sharekhan asked investors to reduce exposure to banks and increase allocations to public sector enterprises due to their attractive valuations and higher dividend yield.Titan
jumped nearly 2% and was among the top Nifty 50 gainers after global brokerage firm JP Morgan termed it the preferred discretionary play. Reporting by Nishit Navin and Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza and Janane Venkatraman
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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.
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
Source: MarketWatch - 🏆 3. / 97 Read more »
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 »
Credit Suisse finds 'material weakness' in its financial reporting, scraps exec bonuses | CNN BusinessCredit Suisse on Tuesday acknowledged 'material weakness' in its financial reporting as it scrapped bonuses for top executives in the wake of its worst annual performance since the global financial crisis. Beauty of modern finance - a new sophisticated word for every 💩 like fraud, collusion etc😅
Source: cnni - 🏆 326. / 59 Read more »