Credit Suisse Group AG has held talks with a number of banks about underwriting a potential capital increase in case it needs to shore up its balance sheet, Bloomberg Law reported on Friday, citing people familiar with the matter.
pledgedSwitzerland's second-largest bank is trying to recover from a series of scandals, including losing more than $5 billion from the collapse of investment firm Archegos last year, when it also had to suspend client funds linked to defunct financier Greensill Capital.for fresh cash, approaching them for the fourth time in around seven years as it attempts a radical overhaul of its investment bank.of as much as 9 billion Swiss francs in the coming years.
Credit Suisse is scheduled to release details of a much anticipated strategic review alongside third-quarter results on Oct. 27.Reporting by Akanksha Khushi in Bengaluru; Editing by Shounak Dasgupta
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse capital gap conundrum draws analyst answersAs Credit Suisse finalises a much-anticipated restructuring, analysts are crunching the numbers on how much capital the bank may need and suggesting how best to plug that gap.
Read more »
USD/JPY: Potential top in the 149.17/150.00 zone – Credit SuisseUSD/JPY has finally achieved Credit Suisse’s long-held core objective from April at 147.62/153.01 – the 1998 high and 38.2% retracement of the 1982/20
Read more »
GBP/USD set to challenge the 1.0350 low again – Credit SuisseGBP/USD remains up 6% from its all-time lows at 1.0350 set last month. The pair retains a noteworthy fragility which threatens a quick return to test
Read more »
EUR/USD: Strong US inflation data to open the door for a test of 0.95 – Credit SuisseThe focus is on the release of the US September Consumer Price Index (CPI). Economists at Credit Suisse expect the EUR/USD pair to test the 0.95 mark
Read more »
Equifax Wages War on Employees Working Second JobsThe credit reporting agency fired 24 remote employees based on employment records collected by Equifax software.
Read more »
Joe Manchin Impoverished 4 Million Children When He Killed Child Tax CreditManchin's refusal to extend the Child Tax Credit meant an estimated 4 million children — 50,000 in his own state — returned to poverty. Manchin’s gripe: The measure didn’t have strict work requirements.
Read more »