Swiss Credit Suisse faces a problem

04.10.2022,12:03


October 4, Fineko/abc.az. Switzerland's second largest bank Credit Suisse has encountered a problem.

ABC.AZ reports that the price of bank’s shares fell to a historic low of 3,518 francs, and the decline since the beginning of the year exceeded 56%.

On 30 September, the bank's management, in a letter about the future transformation of the financial institution, tried to instill confidence in employees, but this probably did not satisfy the market.

Credit Suisse’s CEO Ulrich Kerner says in a letter that normalization of the situation is going through lengthy restructuring of the bank.