Credit Suisse Group AG will decide on whether to raise capital "as soon as possible," Reuters reported March 28, citing CEO Tidjane Thiam, who was speaking at the sidelines of the lender's annual investment conference in Hong Kong.
The Swiss bank needs to raise capital after its net loss for 2016 was restated as CHF2.71 billion, up from the initially reported CHF2.44 billion, according to the newswire.
Credit Suisse, which could drop plans for a partial IPO of its Swiss business Credit Suisse (Schweiz) AG in favor of pursuing a stock offering of over CHF3 billion, has also discussed with advisers the possibility of raising up to CHF5 billion through an offering that would require shareholder assent.
Report: Credit Suisse to outline capital-raising plans 'soon,' says CEO
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Report: Credit Suisse to outline capital-raising plans 'soon,' says CEO
- Author Richard Benjamin Chua
- Theme Banking
- Author
- Richard Benjamin Chua
- Theme
- Banking