Dark hours for Credit Suisse Bank

March 14, 2023. Blick Online: Dark hours for Credit Suisse Bank

Dark hours for the bank Credit Suisse, which continues to fight against the outflow of cash from its coffers. The trend has slowed but not reversed, the bank said in its annual report on Tuesday.

The Zurich group suffered massive liquidity withdrawals last year, of 123.2 billion francs, including 110.5 billion in the fourth quarter alone. “These ebbs have stabilized at much lower levels, but have not yet reversed the trend at the date of publication of the report,” added the establishment in the document.

These outflows have led the number two Swiss bank to use part of its cash reserves, bringing certain indicators below the threshold required by regulators.

“The inability to reverse these ebbs and restore our assets under management and deposits could have a material adverse effect on the results of our activities and our financial condition,” warned the establishment.