Capital Credit Suisse will be increased
2022.11.23 07:13
Capital Credit Suisse will be increased
Budrigannews.com – On Wednesday, Credit Suisse shareholders approved a 4.20 billion Swiss franc share capital increase to support the bank’s turnaround.
The two share capital increases that were first proposed last month as part of the scandal-prone bank’s restructuring plan were supported by approximately 92% and 98% of shareholders at an extraordinary general meeting.
Following the outcome on Wednesday, chairman Axel Lehmann stated, “Today’s vote by shareholders marks a further important step in our journey to build the new Credit Suisse.”
He added, “This vote confirms confidence in the strategy, as we presented it in October, and we are fully focused on delivering our strategic priorities to lay the foundation for future profitable growth.” The approval comes after Credit Suisse announced on Wednesday that it expects to make a pre-tax loss of up to 1.5 billion Swiss francs ($1.58 billion) during its fourth quarter.
Credit Suisse said that the “challenging” economic and market environment had had an adverse effect on client activity across its business. To fund an overhaul that
