Credit Suisse shares hit new record low
Add BT as a preferred source
CREDIT Suisse shares on Monday (Mar 13) reached a new record low in early morning trading on Switzerland’s stock exchange.
The Swiss bank’s shares tumbled over 8 per cent, and were trading at 2.29 Swiss francs (S$3.37) per share, down from the previous low of 2.41 francs per share reached on Friday.
Struggling to recover from a string of scandals, Switzerland’s second-biggest bank has begun a major overhaul of its business, cutting costs and jobs to revive its fortunes, including creating a separate business for its investment bank under the CS First Boston brand.
Last week it announced that it was delaying the publication of its annual report following a call from the United States Securities and Exchange Commission, which raised questions about its earlier financial statement. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Think twice about rebuilding that old landed property into a super-big house to max out GFA
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’
Tech rout sweeps Asia as AI rally jitters spark sell-off
