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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
  Report
Delayed Swiss Exchange  -  12:30:21 2023-03-24 pm EDT
0.7592 CHF   -5.19%
03/25Credit Suisse accessed billions in liquidity last weekend - finance minister
RE
03/25Swiss finance minister defends rushed banking takeover
RE
03/25UBS's Dargan and Credit Suisse's McDonagh to lead merger: newspaper
RE
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Exclusive-UBS seeks about $6 bn in government guarantees for Credit Suisse deal -source

03/18/2023 | 03:41pm EDT
FILE PHOTO: UBS and Credit Suisse banks headquarters in Zurich

(Reuters) - UBS Group AG is seeking government guarantees of about $6 billion for a potential takeover of Credit Suisse Group AG, a person with knowledge of the discussions told Reuters on Saturday.

The discussions are still ongoing and the figure could change as several scenarios are still under review, the person said.

The guarantees would cover the cost of winding down parts of Credit Suisse and potential litigation charges, two people told Reuters.

Talks to resolve the crisis of confidence in Credit Suisse are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine, one of the sources said.

Swiss regulators are racing to present a solution for Credit Suisse before markets reopen on Monday, but the complexities of combining two behemoths raises the prospect that talks will last well into Sunday, said the person, who asked to remain anonymous because of the sensitivity of the situation. Credit Suisse, UBS and the Swiss government declined to comment.

(Additional reporting by John Revill. Editing by Elisa Martinuzzi and Paritosh Bansal)

By Oliver Hirt and Stefania Spezzati


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG -5.19% 0.7592 Delayed Quote.-72.53%
UBS GROUP AG -3.55% 17.26 Delayed Quote.0.32%
All news about CREDIT SUISSE GROUP AG
03/25Credit Suisse accessed billions in liquidity last weekend - finance minister
RE
03/25Swiss finance minister defends rushed banking takeover
RE
03/25UBS's Dargan and Credit Suisse's McDonagh to lead merger: newspaper
RE
03/25Analysis: Wall Street push for bank rescues clashes with Washington realities
RE
03/24Biden said federal deposit insurance could be tapped further if banks fail
RE
03/24Banks scrutinize Credit Suisse products, interactions after takeover
RE
03/24U.S. Treasury says FSOC agreed banking system sound
RE
03/24Sector Update: Financial Stocks Mixed in Late Afternoon Trading
MT
03/24Sector Update: Financial Stocks Mostly Down Friday Afternoon
MT
03/24Yellen chairs closed US Financial Stability Oversight Council meeting
RE
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Analyst Recommendations on CREDIT SUISSE GROUP AG
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Financials
Sales 2023 14 604 M 15 913 M 15 913 M
Net income 2023 -2 237 M -2 437 M -2 437 M
Net Debt 2023 - - -
P/E ratio 2023 -1,44x
Yield 2023 6,32%
Capitalization 2 992 M 3 260 M 3 260 M
Capi. / Sales 2023 0,20x
Capi. / Sales 2024 0,19x
Nbr of Employees 50 480
Free-Float 98,4%
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Technical analysis trends CREDIT SUISSE GROUP AG
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Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 15
Last Close Price 0,76 CHF
Average target price 2,79 CHF
Spread / Average Target 268%
EPS Revisions
Managers and Directors
Ulrich K÷rner Group Chief Executive Officer
Dixit Joshi Chief Financial Officer
Axel P. Lehmann Chairman
Joanne Hannaford Chief Technology Officer
Francesca Jane McDonagh Chief Operating Officer
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