Monday, March 20, 2023

2023 will be a fateful year for Credit Suisse

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Credit Suisse has had a tough time. One crisis follows the next. Now a major renovation should bring the former top bank back on track.

Credit Suisse has lost a lot of trust over the past two years with breakdowns, massive losses and the stock market crash. In the new year, the big bank must now make decisive progress with its restructuring. According to the banking expert Teodoro Cocca (51), the conversion will be “a close thing”.

The urgency of the situation is recognized by the big bank: In October, the CS management announced a “strategy update” with extensive cost savings and a clear redimensioning of the loss-making investment bank unit. Nevertheless, distrust in the stock market remains high.

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