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Credit Suisse, the collapse of a former flagship


The action of the second Swiss bank falls. The establishment fails to reassure on its solidity.

The pressure is still mounted on Monday around Credit Suisse, while investors are worried about its financial health.

The action of the second Swiss bank plunged more than 10% at the opening of the Zurich Stock Exchange, falling to a historic low (3.51 Swiss francs), before recovering during the day.

Credit Suisse has lost 55% of its value since January.

The bank is only valued at 10.4 billion Swiss francs (compared to 30 billion in March 2021).

This distrust of the financial markets is the consequence of years of setbacks.

In 2019, the establishment was shaken by an incredible spy scandal involving former executives which resulted in the departure in February 2020 of Tidjane Thiam, its Franco-Ivorian general manager.

Since then, three leaders have succeeded him.

In 2021, the problems have gone up a notch.

The establishment known to be a bank taking a lot of risks, was involved in two colossal cases: the bankruptcy of the company…

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Source: lefigaro

All business articles on 2022-10-03

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