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Credit Suisse to further cut costs, downsize investment bank

Bank aims to achieve 1.7b Swiss francs in cost savings this year, as it restructures to revitalise its earnings

Published Wed, Mar 23, 2016 · 09:50 PM
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Zurich

CREDIT Suisse Group on Wednesday announced 800 million Swiss francs (S$1.12 billion) in additional cost cuts and plans to shrink its investment bank further as part of a restructuring plan aimed at revitalising its earnings.

Like its global peers, Credit Suisse is grappling with record-low interest rates, low commodity prices and slower growth in emerging markets such as China.

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