Credit Suisse has no problems with lack of customers-CEO
2022.12.21 01:41
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Credit Suisse has no problems with lack of customers-CEO
Budrigannews.com – In an interview with the local newspaper NZZ, the head of Credit Suisse’s Swiss business, Andre Helfenstein, stated that the withdrawals of clients have stabilized and, in some instances, reversed.
The second-largest bank in Switzerland announced last month that wealthy customers had made substantial withdrawals and that it anticipated a pre-tax loss of up to 1.5 billion Swiss francs ($1.62 billion) during the fourth quarter.
By reducing investment banking and concentrating more on its flagship wealth management franchise, Credit Suisse is struggling to recover from a series of scandals.
“The situation has stabilized in Switzerland. Helfenstein stated, “We are in discussions with customers, and some of them have already returned their money.”
In the NZZ interview, Helfenstein was asked if the bank had to offer special terms to keep customers.
He stated, “Only in a targeted manner and only in the middle and upper customer segments.”
Helfenstein likewise said in the meeting that the bank’s fierce year had an effect on worker confidence, yet he didn’t view the bank as disapproving of representative takeoffs in Switzerland.
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“Typically, our staff fluctuation rate is between 8.5 and 8%.” “At this time, it is only slightly higher,” he stated.
Axel Lehmann, chairman of Credit Suisse, stated that very few clients had completely left and that client fund outflows had partially reversed.
