held 15 migrants sonko charges migration crisis central record case seeks positive football congo play south rescue cup nationals billion cut presidential prosecutors offers senegalese million switzerland indian judges investors

Articles for Francs, search results for bank

Bankers who helped Putin's friend move money via Swiss bank accounts lose appeal
5 months, 4 weeks ago

Bankers who helped Putin's friend move money via Swiss bank accounts lose appeal

Hindustan Times  

By John Revill ZURICH - A Zurich court upheld on Tuesday a judgment against four bankers convicted last year of failing to perform due diligence in financial transactions after helping a friend of Russian President Vladimir Putin move millions of francs through Swiss bank accounts. The three Russians and a Swiss citizen helped Sergey Roldugin, a concert cellist who has …

Court Bank Putin Swiss Zurich Roldugin
Julius Baer CEO resigns as Swiss bank announces plans to quit private debt business
10 months, 3 weeks ago

Julius Baer CEO resigns as Swiss bank announces plans to quit private debt business

Associated Press  

GENEVA — Julius Baer says its CEO is resigning and the Swiss bank is quitting the private debt business as well as setting aside more than a half-billion Swiss francs reportedly over its exposure to bankrupt Austrian asset manager Signa. Zurich-based Julius Baer said it was exiting the private debt business and the annual results reflected net credit losses of …

Bank Debt Private Signa Julius Baer Julius Baer
UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
1 year, 6 months ago

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil

Associated Press  

BERLIN — UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank said that “UBS …

Global Financial Credit Billion Switzerland Ubs Credit Suisse
Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger
1 year, 8 months ago

Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger

Hindustan Times  

Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover. The bank also reported deceptively bloated net profits for the quarter, Read here: Credit Suisse rescue package rejected by Swiss parliament Switzerland's long-time second largest bank …

Credit Bank Billion Quarter Switzerland Ubs Swiss
Credit Suisse investors sue after facing billions in losses
1 year, 8 months ago

Credit Suisse investors sue after facing billions in losses

Associated Press  

LONDON — A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses. The investors are contesting an order by the Swiss Financial Market Supervisory Authority, or FINMA, that wiped out about 16 billion Swiss francs in higher-risk Credit Suisse bonds as part …

Financial Credit Bank Billion Switzerland Swiss Bonds
Credit Suisse rescue rebuked by half of Swiss parliament
1 year, 8 months ago

Credit Suisse rescue rebuked by half of Swiss parliament

Associated Press  

GENEVA — Switzerland’s lower house of parliament issued a searing — though symbolic — rebuke Wednesday of an emergency plan spearheaded by the executive branch to prop up embattled Credit Suisse and shepherd it into a takeover by Swiss banking rival UBS. The National Council, through an unusual left-right alliance, voted twice over the last day to reject government guarantees …

Credit Billion Banks Parliament Switzerland Ubs Swiss
4 bankers convicted over Swiss account of longtime Putin pal
1 year, 8 months ago

4 bankers convicted over Swiss account of longtime Putin pal

Associated Press  

GENEVA — Four former bankers with the Swiss affiliate of a key Russian bank were found guilty Thursday of failing to properly check accounts opened in the name of a Russian cellist with longtime ties to President Vladimir Putin. The verdict follows a one-day trial on March 8 based on information about secret financial flows revealed in the Panama Papers …

Putin Russian Swiss Account Accounts Roldugin Gazprombank
Credit Suisse accessed billions in liquidity last weekend, says Swiss finance minister
1 year, 8 months ago

Credit Suisse accessed billions in liquidity last weekend, says Swiss finance minister

Firstpost  

Finance Minister Karin Keller-Sutter said ‘it is to be assumed’ that the figure was above 50 billion Swiss francs, but said the Swiss National Bank had the exact number Zurich: Credit Suisse tapped the Swiss National Bank for “a large multi-billion amount” last weekend to secure its liquidity, the country’s finance minister Karin Keller-Sutter told Swiss broadcaster SRF on Saturday. …

Bank Swiss Credit Suisse 50 Billion
UBS to buy Credit Suisse for $3.24bn in government-brokered deal
1 year, 9 months ago

UBS to buy Credit Suisse for $3.24bn in government-brokered deal

Al Jazeera  

Authorities had been scrambling to rescue Credit Suisse before financial markets reopened on Monday. Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs, officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance. The agreement, announced late on Sunday, includes 100 billion francs in …

Credit Bank Ubs Credit Suisse Suisse Swiss Central
Credit Suisse to borrow $54 billion from Swiss central bank
1 year, 9 months ago

Credit Suisse to borrow $54 billion from Swiss central bank

The Hindu  

Swiss bank Credit Suisse said on March 16 it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States. “This additional liquidity would support Credit Suisse’s core businesses and clients as Credit Suisse takes …

Financial Bank Saudi Central Billion Banks European
Bank fears spread to Europe, drag down shares of big lenders
1 year, 9 months ago

Bank fears spread to Europe, drag down shares of big lenders

Associated Press  

GENEVA — Fears about the world banking system spread to Europe on Wednesday as shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the United States. At one point, Credit Suisse shares lost more than a quarter of their value, hitting a record low after …

Europe Financial Credit National Bank Banks European
Job Cuts, no bonuses: Credit Suisse posts worst loss since 2008 financial crisis
1 year, 10 months ago

Job Cuts, no bonuses: Credit Suisse posts worst loss since 2008 financial crisis

Live Mint  

Investment banking company Credit Suisse Group AG has made a net loss of 1.39 billion francs for the fourth quarter, which brought its total net loss in 2022 to 7.29 billion francs, marking the bank's second consecutive year in the red. On Thursday, Switzerland's second-biggest bank reported its worst annual loss since the 2008 global financial crisis after rattled clients …

Loss Bank Swiss Credit Suisse Koerner Billion Francs Crisis Investment
Credit Suisse unveils ‘radical’ strategy as 3Q loss hits $4B
2 years, 1 month ago

Credit Suisse unveils ‘radical’ strategy as 3Q loss hits $4B

Associated Press  

GENEVA — Swiss bank Credit Suisse unveiled Thursday a “radical strategy” aimed to overcome a string of recent troubles that have dented its reputation, involving cost cuts, staff reductions, steps to lower risk and a cash infusion through a share purchase from a leading Saudi bank. Credit Suisse announced plans to raise some 4 billion Swiss francs by issuing new …

Billion Swiss Bank Credit Credit Suisse Suisse
Swiss authority to probe Credit Suisse over trading losses
3 years, 8 months ago

Swiss authority to probe Credit Suisse over trading losses

Associated Press  

GENEVA — Switzerland’s financial markets authority said Thursday it is looking into possible penalties against Credit Suisse after the top-drawer bank announced “significant losses” linked to a U.S.-based hedge fund. The authority, FINMA, said it will require “various risk-reducing measures” and investigate “possible shortcomings in risk management” at Credit Suisse. The bank, in its quarterly report, said the one-time charge …

Credit Bank Million Quarter Credit Suisse Suisse Swiss Authority
Credit Suisse foresees $4.7B charge over hedge fund default
3 years, 8 months ago

Credit Suisse foresees $4.7B charge over hedge fund default

Associated Press  

GENEVA — Swiss bank Credit Suisse on Tuesday announced the departure of two top executives and said it expects a one-time charge of 4.4 billion Swiss francs in connection with a previously announced default of a U.S. hedge fund on margin calls. “The significant loss in our prime services business relating to the failure of a U.S.-based hedge fund is …

Bank Credit Suisse