From spying to Swiss bailout: How years of turbulence at Credit Suisse came to a head
Publishing timestamp: 2023-03-17 03:16:17
Summary
Credit Suisse has been struggling with chronic issues, including investment banking underperformance and scandals, leading to a persistent decline in its stock price. The bank received a liquidity lifeline from the Swiss National Bank after its share price hit an all-time low, making it the first major bank to receive such intervention since the 2008 Global Financial Crisis. Credit Suisse is currently undergoing a massive strategic overhaul to address these issues, including a spin-off of its investment banking division and a significant cut in exposure to risk-weighted assets. However, the bank's path to long-term stability and profitability remains uncertain, and questions remain about the true value of its stock for shareholders.
Sentiment: NEGATIVE
Tickers: CSCD5, LLOY-GB, 0I4P-GB, CSG.N-CH, LLD5-GB,
Keywords: investment strategy, banks, economy, business news, wall street, credit suisse group ag, lloyds banking group plc,
Source: https://www.cnbc.com/2023/03/17/credit-suisse-timeline-how-years-of-turbulence-came-to-a-head.html