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The second largest bank in Switzerland, founded in 1856, Credit Suisse Bank is on the verge of bankruptcy.
About it informs Forbes.
For 15 days of March, he lost 35% of the value of his shares, including 21% directly on March 15.
Last year, the bank’s net loss rose to 7.3 billion Swiss francs. Currently, the bank’s capitalization is only 5% of the indicators achieved before the 2008 global crisis.
The bank has been trying for several months to reduce costs (it employs about 50.5 thousand people) and attract additional funding, but so far without success.
Today, the head of the National Bank of Saudi Arabia, Amar al Hudayri (this institution became a shareholder of Credit Suisse in December 2022, concentrating 9.9% of its shares), when asked if he would help the Swiss bank, gave a clear answer: “Absolutely not.”
There was also information in the press that Credit Suisse Bank officials and an unnamed “big government” have begun pressuring the Swiss government to intervene and save the bank.
Note that the crisis in the Swiss bank is developing against the backdrop of growing problems in the US banking system, where several banks have already collapsed.
Previously, “Strana” analyzed why the bank fall began in the United States and how it will affect the global economy and Ukraine.
