Credit Suisse to finalise capital raising plans “as soon as possible”: Thiam

Listen to this article


Credit Suisse’s chief executive Tidjane Thiam said on Tuesday that the bank will finalise capital raising plans as soon as possible but declined to give a specific time frame.

The bank is reportedly considering a capital raise of SFr3bn-SFr5bn ($3bn-$5bn) and continues to restructure globally.

Credit Suisse reported a net loss of SFr2.7bn for 2016 after in December agreeing a settlement with US authorities over the alleged mis-selling of toxic mortgage securities, which led to a fourth-quarter charge of $2bn.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from and redistribute by email or post to the web.