Credit Suisse says doing everything it can to settle U.S. tax probe

Reuters
Swiss bank Credit Suisse logo is seen in front of its headquarters in Zurich
.

View photo

Swiss bank Credit Suisse logo is seen in front of its headquarters in Zurich May 2, 2014. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Credit Suisse (CSGN.VX) is doing everything in its power to reach a settlement with U.S. authorities who are probing whether and how its private bankers helped wealthy Americans dodge their taxes, executives will tell the bank's shareholders on Friday.

"We are doing everything we can to resolve this matter within the given framework of U.S. and Swiss law, in the best possible way and in a timely manner," Credit Suisse Chairman Urs Rohner will tell the Swiss bank's annual shareholders' meeting, according to prepared remarks which were released ahead of the meeting.

However neither Rohner nor Chief Executive Brady Dougan will comment on specifics of talks with U.S. authorities, the prepared remarks showed.

According to one source familiar with the matter, the talks involve the bank paying as much as $1.6 billion to resolve a justice department investigation.

"To the extent that errors were made by the bank, it has to assume responsibility," Rohner will tell the meeting.

(Reporting by Katharina Bart; Editing by David Holmes)

Rates

View Comments (13)