Credit Suisse CFO teams to hold talks this weekend on scenarios for bank, sources say
The bank is considering options including a sale of its entire U.S. business.Credit Suisse AG will be meeting this weekend to discuss options for the future of the bank as it tries to regain market confidence. One option under consideration is selling the entire U.S. business.
People familiar with the matter said that Credit Suisse will hold meetings this weekend to discuss scenarios and options for the bank, as it attempts to regain market confidence.
According to people, these meetings will be attended by teams reporting to Dixit Joshi (CFO), the sources said. According to sources, executives will review the numbers and create scenarios that could change Credit Suisse's future.
Credit Suisse declined to comment.
After its customers had pulled in more than $100 billion of funds over the past months, the bank announced that it would seek a loan of $54 billion from Swiss National Bank. The bank's shares fell 25% on Wednesday.
On Friday, shares fell again.
Analysts believe that the loan facility has given Credit Suisse enough time to think strategically about how to restore profitability, despite investor confidence remaining low.