News Analysis The announcement on Tuesday that troubled bank Credit Suisse plans to sell off a bulk of its securitized assets to Apollo Global Management next year is expected to usher in a new phase of the bank’s reorganization and help shift its focus from high-risk to more traditional areas. But in the absence of…
Credit Suisse’s Sale of Securitized Products Will Not Correct Deeper, ‘Cultural’ Problems Reminiscent of 2008 Meltdown: Experts
Credit Suisse Unveils ‘Radical’ Strategy as 3Q Loss Hits $4B
GENEVA—Swiss bank Credit Suisse unveiled Thursday a “radical strategy” aimed to overcome a string of recent troubles that have dented its reputation, involving cost cuts, staff reductions, steps to lower risk, and a cash infusion through a share purchase from a leading Saudi bank. The Zurich-based bank also said it will revive the CS First…
Credit Suisse Pays $495 Million to Settle Legacy US Case
ZURICH—Credit Suisse has agreed to pay $495 million to settle a case related to mortgage-linked investments in the United States, the latest pay-out related to past blunders that have battered the Swiss bank’s reputation. The lender has been paying out billions of dollars to resolve legal cases linked to its residential mortgage-backed securities (RMBS) business…
Moody’s Says Credit Suisse Could Suffer $3 Billion Loss in 2022
NEW YORK—Rating agency Moody’s Investors Service expects losses for Credit Suisse to swell to $3 billion by year-end, potentially bringing its core capital below the key 13 percent level, Moody’s lead analyst on the bank told Reuters. Credit Suisse has reported 1.9 billion francs ($1.92 billion) of losses in the first half of the year….
One Credit Suisse Analyst Says Bank’s Capital, Liquidity ‘Healthy,’ Another Warns of Impending Equity Raise: What You Need to Know
Credit Suisse Group is dominating headlines Monday morning amid rising concerns over the Swiss bank’s financial health. What Happened Reports suggesting Credit Suisse could be battling liquidity issues sent the lender’s shares tumbling Monday morning. The bank’s credit default swaps, which provide investors with protection against financial risks and essentially measure how a company’s financial…
One Credit Suisse Analyst Says Bank’s Capital, Liquidity ‘Healthy,’ Another Warns of Impending Equity Raise
Credit Suisse Group is dominating headlines Monday morning amid rising concerns over the Swiss bank’s financial health. What Happened Reports suggesting Credit Suisse could be battling liquidity issues sent the lender’s shares tumbling Monday morning. The bank’s credit default swaps, which provide investors with protection against financial risks and essentially measure how a company’s financial…
Court Finds Credit Suisse Guilty of Facilitating Money Laundering Tied to Cocaine Ring
Swiss bank Credit Suisse was found guilty by the country’s Federal Criminal Court on June 27 for failing to prevent money laundering by a Bulgarian cocaine trafficking gang in the first such criminal trial Switzerland has seen against one of its major banks. The case involved millions of euros in bank deposits made by the…
Credit Suisse Froze $10.6 Billion Worth of Sanctioned Assets in Q1
ZURICH—Credit Suisse froze 10.4 billion Swiss francs ($10.63 billion) of wealthy clients’ assets in the first quarter under sanctions imposed in connection with Russia’s invasion of Ukraine, the bank’s financial report showed on Thursday. The Swiss bank’s financial report gave more details of its first-quarter results, which were originally published last week. “In 1Q22, CHF…
Here’s Why Credit Slashed Its Price Target on PayPal
Credit Suisse slashed its price target for PayPal Holdings Inc to $155 from $190 (55.5 percent upside) and reiterated Outperform. The re-rating followed model updates and increased levels of uncertainty stemming from multiple factors. The factors included CFO departure, inflationary pressures on low-income consumers, discretionary spending, supply chain impacts, and elevated user churn. PayPal’s FY 2022 guidance calling for…
Central Banks Seen Enhancing Liquidity After SWIFT Ban: Credit Suisse Strategist
March 1, 2022
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NEW YORK—The banning of certain Russian banks from the SWIFT international payment system could push central banks to enhance liquidity to offset missed payments, a Credit Suisse strategist said on Sunday. Western nations announced on Saturday a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the…
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