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Tag: Credit Suisse


News

Credit Suisse warns of $1.6B Q4 loss

November 23, 2022

Via: Banking Dive

Although the outflows have been “reduced substantially from the elevated levels of the first two weeks of October 2022,” they have yet to reverse, Credit Suisse said Wednesday. The pace of withdrawals pushed the bank’s liquidity below some local-level requirements, […]


News

Credit Suisse to trim 9K jobs, break up investment bank

October 27, 2022

Via: Banking Dive

Credit Suisse plans to cut 9,000 jobs over the next three years as part of a wide-ranging revamp it announced Thursday. About 2,700 of those cuts will come in the fourth quarter, the bank said. Credit Suisse also outlined its […]


News

Credit Suisse sells global trust business to Butterfield and Gasser Partner

September 7, 2022

Via: FinTech Futures

Butterfield will acquire Credit Suisse Trust’s (CST) business in Guernsey, Singapore and the Bahamas while Gasser is set to snap up CST’s Liechtenstein business. Credit Suisse head of investment solutions and sustainability, Michael Strobaek, says the firm regularly reviews its […]


Capital and Risk, Credit

Credit Suisse emerges as missing piece in neobank’s crumbled merger

August 22, 2022

Via: Banking Dive

If details seemed sparse in last month’s sudden disintegration of the proposed merger between neobank American Challenger and Patriot National Bank, one missing component, a court filing indicates, appears to be Credit Suisse. American Challenger sued Switzerland’s second-largest bank and […]


News

Credit Suisse poaches Goldman Sachs’ Joanne Hannaford to lead technology & operations

January 4, 2022

Via: FinTech Futures

Hannaford has replaced James Walker in the role, who will relocate to the US to become deputy chief executive of the Credit Suisse business in the region. Hannaford will also join the Swiss multinational’s executive board and will be based […]


Activity, Investment Banking

Deutsche Bank reports its best quarterly profit for seven years

April 28, 2021

Via: CNBC

LONDON — Deutsche Bank on Wednesday reported a 908 million euro ($1.1 billion) profit for the first quarter, buoyed by continued strong performance in its investment banking division. The bank vastly exceeded analyst expectations for net income of 642.95 million […]


Capital and Risk, Insurance, Regulations

Credit Suisse Faces Questions from Regulators, Insurers After Collapse of Greensill Funds

March 11, 2021

Via: Insurance Journal

ZURICH/TOKYO – Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital. The Swiss bank has hired external firms […]


Capital and Risk, Credit, Regulations

Credit Suisse pays $600 million to settle U.S. mortgage case

February 12, 2021

Via: American Banker

Credit Suisse Group AG agreed to pay $600 million to settle a lawsuit over mortgage securities that collapsed in the 2008 financial crisis, an accord that locks in an expected hit to its profit. The plaintiff, MBIA Insurance, said late […]


Regulations

Swiss regulator starts enforcement proceedings against Credit Suisse over spying scandal

September 2, 2020

Via: CNBC

Swiss watchdog FINMA (the Financial Market Supervisory Authority) said Wednesday it had initiated enforcement proceedings against Credit Suisse over the spying affair that came to light last year. “FINMA has opened enforcement proceedings against the bank, in which it will […]


Capital and Risk, Macroeconomic

Credit Suisse has a word to describe this sluggish economy — a ‘semi-recession’

October 3, 2019

Via: CNBC

Investors and economists are chasing a moving target of strong and weak economic data, making it increasingly confusing what the state of the economy really is. Credit Suisse said weak manufacturing data accompanied by healthy economic data elsewhere lands the […]


Regulations

Credit Suisse Executive Steps Down Amid Spying Scandal

October 1, 2019

Via: The New York Times

The chief operating officer of Credit Suisse, Pierre-Olivier Bouée, resigned on Tuesday as the company board examined his involvement in a corporate spy scandal. In August, Mr. Bouée ordered the Swiss bank’s head of security services to start surveillance of […]


Retail Banking

Credit Suisse to reduce reliance on branch network, invest millions in digital

August 27, 2019

Via: Finextra

Following a trend seen throughout Europe and North America, Credit Suisse is making significant changes at its Swiss Universal Bank (SUB) to tackle a new environment shaped by growing pressure on margins, digitisation, new rivals and evolving, tech-focused customer needs. […]


Activity, Corporate Banking

BofML, Citi, Others Provide New $325MM Revolver for Vivint Solar

August 8, 2019

Via: ABF Journal

Vivint Solar closed a $325 million revolving warehouse facility, which refinanced the aggregation credit facility that was set to mature in 2020 The new warehouse reduces the cost of debt by 87.5 basis points and materially increases the amount of […]


Capital and Risk, Liquidity

Credit Suisse cuts Amazon estimates a day before earnings report, citing one-day shipping costs

July 24, 2019

Via: CNBC

A day before Amazon’s second-quarter earnings release, Credit Suisse lowered its earnings estimate because of the e-commerce giant’s roll-out of one-day prime. The firm lowered Amazon’s full-year 2019 earnings per share estimate to $38.87 from the previous estimate of $41.14, […]


Activity, Trading

Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

March 18, 2019

Via: CNBC

Underneath the stock market’s epic rebound has been a “more favorable” trend that Credit Suisse says will drive the market higher. The bank dialed up its year-end forecast for the S&P 500 to $3,025 from $2,925 previously. The new forecast […]


Capital and Risk, Credit

Credit Suisse teams with Klara for online credit requests

March 14, 2019

Via: Finextra

Credit Suisse and KLARA are simplifying finance for SMEs. In addition to the innovative accounting solution that automatically communicates with all interfaces, starting now, SMEs on KLARA can submit non-binding credit requests online to Credit Suisse. More efficiency for SMEs […]


Regulations

Major banks suspected of collusion in EU bond rigging probe

December 20, 2018

Via: Market Watch

The European Commission suspects Deutsche Bank AG, Credit Suisse Group AG and two other global banks of colluding to manipulate a multi-trillion-dollar government-backed bond market, escalating a long running probe. The European Union’s executive arm, which opened the investigation almost […]


Activity, Corporate Banking

JPMorgan, Others Arrange Kraton Term Loan Refi

March 13, 2018

Via: ABF Journal

Kraton Corporation amended its existing senior secured term loan facility. JP Morgan, Deutsche Bank and Credit Suisse acted as joint lead arrangers and joint bookrunners on the transaction. The amendment, among other things, included: Increased borrowing under the Euro-denominated tranche […]


Capital and Risk, Liquidity, Macroeconomic

Credit Suisse CEO now has a whole new perspective of central banks

November 30, 2017

Via: CNBC

The chief executive of Credit Suisse has sharply altered his view on global central banks, telling CNBC that policymakers have been handling the current environment “very well.” “You have heard me previously taking about QE (quantitative easing) in a negative […]


Capital and Risk, Credit

Kabbage Gets $200 Million from Credit Suisse

November 17, 2017

Via: Bank Innovation

Small business lender Kabbage received $200 million in revolving credit from Swiss financial institution, Credit Suisse. The funds will used by the Atlanta-based Kabbage to scale and expand its lines of credit with longer terms to its existing customer base, […]