Credit Suisse Group Stock News

GENEVA (AP) Credit Suisse on Thursday reported a fourth-quarter loss of 2 billion Swiss francs ($2.2 billion) as the top-drawer Swiss bank wrapped up a year of challenges marked by bad bets on a hedge fund, set asides for legal costs and accounting changes due to its acquisition of a U.S. investment bank over 20 years ago. The Zurich-based bank, the second largest in Switzerland''s active financial sector after rival UBS, said revenue in the fourth quarter fell 12%, to 4.6 billion francs, compared with a year earlier. It posted a pre-tax loss of 1.6 billion francs stemming in large part to goodwill linked to its acquisition of the Donaldson, Lufkin & Jenrette investment bank in 2000. Credit Suisse said that loss also stemmed from major litigation provisions and continued fallout from a one-time charge of more than 4.4 billion francs announced last spring in connection with the default of U.S. hedge fund Archegos on margin calls. The bank said 2021 has been a year of challenges." It cited declining appetite for risk across the company last year, and a new strategy launched in November after a string of setbacks that have dented its reputation.

GENEVA (AP) Credit Suisse on Thursday reported a fourth-quarter loss of 2 billion Swiss francs ($2.2 billion) as the

Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs, Trend reports with reference to Reuters.

Too much U.S. stimulus, along with higher wages, are the key ingredients pointing to persistent inflation over the next few years, says Credit Suisse Securities' Jonathan Golub.

In the latest trading session, 1.6 million Credit Suisse Group AG (NYSE:CS) shares changed hands as the companys beta touched 1.39. With the companys most recent per share price at $10.04 changing hands around $0.11 or 1.10% at last look, the market valuation stands at $26.40B. CSs current price is a discount, trading about -48.11% Credit Suisse Group AG (NYSE: CS) Stock Forecast For 2022: Increases Growth Prospects To $9 Per Share Read More »

Credit Suisse Slashes Bonus Pool Amid Pushback From Swiss Regulator Credit Suisse''s top bankers are about to be extremely disappointed. Following a scandal-plagued 2021, the Swiss banking giant had been planning to hike bonuses for its top bankers (MDs and up) - that is, until Finma, the Swiss banking regulator, stuck its nose in. The agency has asked the megabank to make "significant reductions" to the size of its bonus pool. This led to a cut of 10%. Regulators presumably chafed at the notion that CS would indulge its employees with massive payouts despite the disastrous 2021 it had (among other things, the bank is currently facing a criminal trial in Switzerland related to its role in banking for cocaine traffickers). The Swiss lender was forced to reverse plans to boost variable compensation after financial markets watchdog Finma asked the bank to consider significant reductions to the pool, the people said, asking not to be identified discussing internal matters. The final overall bonus number may still vary slightly and individual pay will depend on the business unit, they said.

Two major investors in the bank say they will vote against the re-election of Severin Schwan if he is proposed, citing concerns about his workload.

Severin Schwans days as Credit Suisses vice-chair could be numbered after reports that two key investors are against him taking on another term.

ZURICH (Reuters) Credit Suisse Vice Chair Severin Schwan faces opposition to his re-election to the board of the embattled Swiss lender, The Financial Times reported on Wednesday.

Two major investors say they will vote against re-election of Severin Schwan if he is proposed

Credit Suisse identifies stock opportunities for investors as younger consumers increasingly seek to lead more sustainable lifestyles.

Credit Suisse updated it''s midstream energy picks Tuesday, Keyera (KEYUF) is upped to buy while TC Energy (TRP) is reduced to hold, as the bank sees an opportunity to tactically trade

Credit Suisse <> is trimming its 2021 bonus pool by ~10% after Swiss regulators pressured the bank on the higher compensation after it turned in its worst year since the…

The metaverse has become one of the hottest investing trends in the past few months and Credit Suisse has several ways to play it.

Credit Suisse Group AG is cutting its 2021 bonus pool by about 10% after Swiss regulators pushed back on higher pay following the bank’s worst year since the financial crisis, people with knowledge of the matter said.