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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
  Report
Delayed Swiss Exchange  -  12:31:58 2023-03-21 pm EDT
0.8834 CHF   +7.31%
05:46pMarketmind: Hoping Powell sheds light in fog of uncertainty
RE
04:57pShares jump but investor fears about bank 'whack-a-mole' linger
RE
04:40pJudge in Archegos founder's criminal case unlikely to dismiss charges
RE
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Exclusive-UBS seeks about $6 bn in government guarantees for Credit Suisse deal -source

03/18/2023 | 04:41pm 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 7.31% 0.8834 Delayed Quote.-70.22%
UBS GROUP AG 12.12% 19.425 Delayed Quote.0.70%
All news about CREDIT SUISSE GROUP AG
05:46pMarketmind: Hoping Powell sheds light in fog of uncertainty
RE
04:57pShares jump but investor fears about bank 'whack-a-mole' linger
RE
04:40pJudge in Archegos founder's criminal case unlikely to dismiss charges
RE
04:20pReact Group optimistic; Cindrigo inks financing
AN
03:30pUBS set for talks with Michael Klein to terminate Credit Suisse investment..
RE
01:49pHedge funds eye opportunities in cut-price Credit Suisse AT1s
RE
01:08pGlobal shares jump but bank 'whack-a-mole' not over
RE
12:59pShift to Fed's Rate Hike Path, Better Outlook on UBS-Credit Suisse Deal Pushes US Equit..
MT
12:42pImproved Sentiment Over UBS-Credit Suisse Deal Boosts Exchange-Traded Funds, US Equitie..
MT
12:40pSwiss govt suspends forms of variable remuneration at Credit Suisse
RE
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Analyst Recommendations on CREDIT SUISSE GROUP AG
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Financials
Sales 2023 14 604 M 15 853 M 15 853 M
Net income 2023 -2 237 M -2 428 M -2 428 M
Net Debt 2023 - - -
P/E ratio 2023 -1,65x
Yield 2023 5,43%
Capitalization 3 482 M 3 779 M 3 779 M
Capi. / Sales 2023 0,24x
Capi. / Sales 2024 0,22x
Nbr of Employees 50 480
Free-Float 98,4%
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Technical analysis trends CREDIT SUISSE GROUP AG
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Mean consensus UNDERPERFORM
Number of Analysts 15
Last Close Price 0,88 CHF
Average target price 2,82 CHF
Spread / Average Target 219%
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
Sector and Competitors