Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Credit Suisse Group AG
  6. News
  7. Summary
    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
  Report
Real-time Estimate Cboe Europe  -  04:41:17 2023-02-06 am EST
3.216 CHF   -3.02%
12:41aMarketmind: Hot air
RE
02/05Credit Suisse-Trinity Investments JV Buys Beach Resort In US
MT
02/05Standard Chartered Said to Reject Adani Group's Bonds As Collateral Amid Fraud Accusations
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Few Credit Suisse clients have closed accounts - CEO of the bank's Swiss unit

11/27/2022 | 12:53pm EST
FILE PHOTO: CEO Helfenstein of Credit Suisse (Schweiz) AG addresses a news conference in Zurich

ZURICH (Reuters) - The head of Credit Suisse's Swiss unit said "some customers have withdrawn some of their money, but very few have actually closed their accounts."

Last week, Switzerland's second-largest bank said it expects to make a pre-tax loss of up to 1.5 billion Swiss francs ($1.6 billion) during Q4 and revealed that wealthy clients had made hefty withdrawals, leading to a big drop in liquidity, breaching some regulatory limits.

The announcement sent the share price tumbling and led to the cost of insuring the debt of Credit Suisse against default rising.

"In our Swiss Bank division, client assets have stabilised, and we have lost a total of 1% of our asset base," said Andre Helfenstein in an interview published on Sunday with Swiss newspaper SonntagsZeitung.

A number of options have been floated as paths Credit Suisse may take to help it get it back on track. Helfenstein said splitting the Swiss business from the bank's international business was "absolutely not an option".

He also said a sale of the private client business and the asset management division was "not up for debate either".

As part of the restructuring plan Credit Suisse announced last month, the bank also said it would cut thousands of jobs by 2025, including 2,700 by the end of this year.

Helfenstein said the difficult year has had an impact on employee morale. "I wouldn't say demotivation, but rather a certain level of fatigue and sometimes frustration," he said.

($1 = 0.9453 Swiss francs)

(Reporting by Noele Illien; editing by David Evans)


ę Reuters 2022
All news about CREDIT SUISSE GROUP AG
12:41aMarketmind: Hot air
RE
02/05Credit Suisse-Trinity Investments JV Buys Beach Resort In US
MT
02/05Standard Chartered Said to Reject Adani Group's Bonds As Collateral Amid Fraud Accusati..
MT
02/03Renewed U.S. junk bond rally ignites hope for more stuck buyout debt
RE
02/03Credit Suisse Group's Data Leak Reportedly Facing Investigation From Swiss Federal Pros..
MT
02/03Indonesia's Pertamina Geothermal tightens price in IPO worth up to $611 million
RE
02/03Apple & Alphabet sales and profits decline, MarketS..
MS
02/03Swiss prosecutors launch case over Credit Suisse dirty money data leak - reports
RE
02/02Credit Suisse Study Finds Swiss SMEs Can Adapt to Geopolitical Challenges
MT
02/02Swiss Prosecutors to Investigate Massive Credit Suisse Data Leak
MT
More news
Analyst Recommendations on CREDIT SUISSE GROUP AG
More recommendations
Financials
Sales 2022 15 276 M 16 538 M 16 538 M
Net income 2022 -6 708 M -7 262 M -7 262 M
Net Debt 2022 - - -
P/E ratio 2022 -1,60x
Yield 2022 1,34%
Capitalization 13 158 M 14 246 M 14 246 M
Capi. / Sales 2022 0,86x
Capi. / Sales 2023 0,81x
Nbr of Employees 51 680
Free-Float 99,0%
Chart CREDIT SUISSE GROUP AG
Duration : Period :
Credit Suisse Group AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CREDIT SUISSE GROUP AG
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 3,32 CHF
Average target price 4,09 CHF
Spread / Average Target 23,3%
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