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Articles for Francs, search results for losses

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
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
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
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
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