Credit Suisse CEO says outflows have reduced 'very significantly' as overhaul progresses
Publishing timestamp: 2023-01-18 08:47:41
Summary
Credit Suisse is seeing a reduction in client outflows as it progresses with its major strategic overhaul. As part of the overhaul, Credit Suisse shareholders greenlit a $4.2 billion capital raise, including a new private share offering that will see Saudi National Bank become the largest interest holder with a 9.9% stake. The bank is also reaching out to tens of thousands of clients for feedback and is on the verge of buying an investment advisory firm.
Sentiment: MIXED
Keywords: banks, davos - world economic forum, switzerland, breaking news: davos, politics, world economy, credit suisse group ag, business news,