Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Few Credit Suisse clients have closed accounts

by Reuters
November 27, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: The slogan “Of course it works.” is seen behind as CEO Andre Helfenstein of Credit Suisse (Schweiz) AG addresses a news conference in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – The head of Credit Suisse’s Swiss unit said “some customers have withdrawn some of their money, but very few have actually closed their accounts.”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)



Source link

Tags: accountsclientsclosedCreditSuisse
Previous Post

Bitcoin Core 24, Bitcoin’s controversial upgrade is now live

Next Post

Sen. Chris Murphy: Senate Lacks Votes To Pass Assault Weapons Ban

Related Posts

Nu Holdings: The Fintech Stock With Strong Long-Term Growth Potential (NYSE:NU)

Nu Holdings: The Fintech Stock With Strong Long-Term Growth Potential (NYSE:NU)

by Analysis Fundamental
July 9, 2025
0

This text was written byComply withI'm an skilled Threat Administration Enterprise Analyst at a Systemic Greek Financial institution, with a...

Antofagasta: Robust Prospects For Long-Term Dividend Investors (ANFGF)

Antofagasta: Robust Prospects For Long-Term Dividend Investors (ANFGF)

by Alberto Abaterusso
July 9, 2025
0

This text was written byObserveAlberto holds a Grasp's diploma in Enterprise Economics. Throughout his educational profession he acquired an in...

Oklo: The Most Exciting Zero-Revenue Stock (NYSE:OKLO)

Oklo: The Most Exciting Zero-Revenue Stock (NYSE:OKLO)

by Michael Wiggins De Oliveira
July 8, 2025
0

This text was written byObserveMichael Wiggins De Oliveira is an inflection investor. This implies shopping for into low cost corporations...

B-Stock’s Summer Teammate Spotlight 2025: Meet Mia Paulding

B-Stock’s Summer Teammate Spotlight 2025: Meet Mia Paulding

by Andrea Vargas
July 8, 2025
0

B-Inventory is so excited to welcome Mia Paulding to the Purchaser Account Administration staff this summer time! As a summer...

B-Stock’s Summer Teammate Spotlight 2025: Meet Alyssa Shum

B-Stock’s Summer Teammate Spotlight 2025: Meet Alyssa Shum

by Andrea Vargas
July 8, 2025
0

B-Inventory is so excited to welcome Alyssa Shum to the Product Design group this summer time! As a summer time...

Dell Stock Is Fairly Valued With CSG Struggles (NYSE:DELL)

Dell Stock Is Fairly Valued With CSG Struggles (NYSE:DELL)

by Jia Ming Eow
July 7, 2025
0

This text was written byObserve19 12 months previous passionate dealer managing a 6 determine portfolio attempting to and beating the...

Next Post
Sen. Chris Murphy: Senate Lacks Votes To Pass Assault Weapons Ban

Sen. Chris Murphy: Senate Lacks Votes To Pass Assault Weapons Ban

NIO Stock: Beijing Sends A Message (NYSE:NIO)

NIO Stock: Beijing Sends A Message (NYSE:NIO)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Here Are Top Developments Surrounding XRP Recently That You Should Be Aware Of

Here Are Top Developments Surrounding XRP Recently That You Should Be Aware Of

July 10, 2025
Coinbase Adds Support for Pump.Fun Ahead of $PUMP Token ICO

Coinbase Adds Support for Pump.Fun Ahead of $PUMP Token ICO

July 10, 2025
Huntington Ingalls upgraded at TD Cowen on contract momentum, margin upside (HII:NYSE)

Huntington Ingalls upgraded at TD Cowen on contract momentum, margin upside (HII:NYSE)

July 10, 2025
BIT Mining’s strategic leap into Solana propels stock to 3-year high

BIT Mining’s strategic leap into Solana propels stock to 3-year high

July 10, 2025
Crucial’s super-fast X9 portable SSD is excellent—and now it’s  off

Crucial’s super-fast X9 portable SSD is excellent—and now it’s $60 off

July 10, 2025
Canadian travel to the U.S. plummets — but Americans are staying home, too

Canadian travel to the U.S. plummets — but Americans are staying home, too

July 10, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Here Are Top Developments Surrounding XRP Recently That You Should Be Aware Of

Coinbase Adds Support for Pump.Fun Ahead of $PUMP Token ICO

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In