CS - Credit Suisse Group AG
Chart Events
Price Crosses Moving Average
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 0.8471 |
| Open | 0.8327 |
| Bid | 0.0000 x 3200 |
| Ask | 0.0000 x 3100 |
| Day's Range | 0.8154 - 0.8360 |
| 52 Week Range | 0.8154 - 7.2500 |
| Volume | |
| Avg. Volume | 45,240,269 |
| Market Cap | 3.247B |
| Beta (5Y Monthly) | 1.19 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -2.8200 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.05 (6.37%) |
| Ex-Dividend Date | Apr 10, 2023 |
| 1y Target Est | 4.18 |
Fair Value
Related Research
ReutersCredit Suisse bankers leaving by the hundreds every week - sources
Hundreds of Credit Suisse's employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS, two people familiar with the matter said on Wednesday. Credit Suisse bankers, worried about their future are seeking safer employment at competitors, one person said. Swiss newspaper Blick reported earlier on Wednesday that each day around 150 people worldwide were resigning from Credit Suisse while one of the two people said they saw about 200 resignations a week.
BloombergCredit Suisse Notified by NYSE It’s Not Meeting Listing Rules
(Bloomberg) -- Credit Suisse Group AG said that it’s been notified by the New York Stock Exchange that it’s no longer in compliance with minimum listing criteria.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity SaysJPMorgan Builds Unit for World’s Richest Families in Wealth BetMcCarthy Confident on Debt Vote Despite Hard-Li
ReutersExclusive-Credit Suisse axes China bank plan to avoid regulatory conflict under UBS-sources
HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China. The reason for the Swiss lender's decision was that UBS, which is acquiring Credit Suisse as part of a government-orchestrated rescue of its smaller rival, already has a locally incorporated bank in China, said the sources.
BloombergCredit Suisse Loses Investment Banker Jill Ford to Wells Fargo
(Bloomberg) -- Wells Fargo & Co. has hired Credit Suisse Group AG investment banker Jill Ford as head of its equity capital markets business, according to people familiar with the matter. Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesMcCarthy Confident on Debt Vote Despite Hard-Line Ouster ThreatPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapJPMorgan Builds Unit for World’s Ri
- Financial Times
SVB’s collapse was one thing, Credit Suisse’s quite another
The 1996 slasher movie Scream sets out three rules to survive a horror movie: you can never have sex, you can never drink or do drugs and you can never, under any circumstances, say “I’ll be right back”. Among recent bank failures, Silvergate did the deed, Signature Bank got wasted on its parents’ Tia Maria and Silicon Valley Bank did both before popping outside to check the strange noise in the garden. The failure of Credit Suisse really is a horror story.
The Wall Street JournalIsraeli Cyber Company NSO Group Has New Ownership After U.S. Blacklist
The Israeli maker of the controversial Pegasus software used to target government officials and activists has been pushed into a restructuring by its lenders.
- Financial Times
Credit Suisse ordered to pay $926mn to former prime minister of Georgia
Ruling from Singaporean judge comes shortly before UBS is expected to complete takeover of Swiss rival
ZacksUBS' Buyout of Credit Suisse Gets EU Antitrust Approval
UBS Group AG's (UBS) acquisition of Credit Suisse Group AG receives the European Commission's nod after the latter concluded that the deal would not raise competition concerns.
AP FinanceCredit Suisse owes millions to Georgia's billionaire ex-prime minister, court says
Credit Suisse owes former Georgian Prime Minister Bidzina Ivanishvili hundreds of millions of dollars for failing to protect the billionaire's money in a trust pilfered by a manager, a Singapore court ruled Friday, the latest scandal for the Swiss bank whose yearslong problems forced its takeover by a rival. Ivanishvili in 2004 put more than $1.1 billion into a trust overseen by the bank's Singapore subsidiary, Credit Suisse Trust Limited, and the employee managing the trust “misappropriated many millions of dollars” over nine years before being caught and sent to prison, the Singapore International Commercial Court said. The billionaire businessman, who amassed a fortune in Russia before serving as Georgia's prime minister from 2012 to 2013, sued the Swiss bank for about $1.2 billion, saying it failed to properly administer the trust and keep its assets safe.
BloombergBillionaire Georgian Wins Case Against Credit Suisse
A Credit Suisse Group AG unit was ordered to pay Georgian billionaire Bidzina Ivanishvili what is set be hundreds of millions of dollars by a Singapore court, in yet another blow for the bank in the long-running legal saga. Jan-Patrick Barnert reports on Bloomberg Television. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en
The Wall Street JournalCredit Suisse Ordered to Compensate Georgian Tycoon Bidzina Ivanishvili
A Singapore court ordered a Credit Suisse trust unit to compensate the former prime minister of Georgia, though the judgment didn't state the exact amount of damages to be paid. Credit Suisse Trust Limited failed to safeguard the assets held in the trust and therefore breached its duty to the plaintiffs, which include Georgian tycoon and politician Bidzina Ivanishvili, according to a [judgment](https://www.
ReutersGeorgian billionaire wins $926 million from Credit Suisse after fraud
ZURICH (Reuters) -Credit Suisse was ordered to pay $926 million to Georgia's former prime minister on Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank. Singapore's International Commercial Court said a unit of Credit Suisse had not acted in good faith and neglected to keep the assets of Bidzina Ivanishvili safe, in the latest blow to the troubled bank, which is being taken over by UBS. Credit Suisse immediately said it would appeal the decision.
BloombergPimco Weighs Joining Investors Suing Over Credit Suisse AT1s
(Bloomberg) -- Pacific Investment Management Co. is considering joining hundreds of investors in challenging the Swiss regulator’s decision to wipe out about $17 billion of Credit Suisse Group AG bonds following the bank’s takeover by UBS Group AG.Most Read from BloombergEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEurope’s Economic Engine Is Breaking DownCredit Suisse Loses Singapore Case Against Georgian Bill
ReutersUBS gains EU antitrust approval to acquire Credit Suisse
UBS on Thursday won unconditional EU antitrust approval to acquire Credit Suisse as part of a government-orchestrated rescue of its Swiss rival. The European Commission said the deal would not raise competition concerns in Europe, confirming a Reuters story earlier this month. UBS, which is twice as big as Credit Suisse by assets, agreed to buy its competitor for 3 billion Swiss francs in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avert contagion in global banking.
ReutersSwitzerland speeds up work on liquidity backstop after Credit Suisse crash
The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in March under emergency rules to other systemically important banks and make it a permanent part of regulatory framework. Provision of state-guaranteed cash for such banks were they to fall in distress was proposed over a year ago with the finance ministry tasked with preparing draft legislation by mid-2023. But a global banking turmoil and a deepening crisis of confidence in Credit Suisse prompted Swiss authorities to authorize the central bank in March to provide 200 billion Swiss francs ($225.00 billion) in liquidity to the nation's no. 2 lender in emergency measures.
- Financial Times
Meet the pizza-loving diplomat behind Antigua News’s big Credit Suisse scoop
Credit Suisse directly disputed the Swiss financial regulator’s basis for writing down $17bn of its additional tier 1 bonds, in a private letter aimed at sparing staff bonuses that were tied to the debt. The second decree was published in full online last week by Antigua News, a local news outlet. If you are not familiar with Antigua News, you are not alone.
- Financial Times
Credit Suisse withdraws attempt to protect staff bonuses
Credit Suisse has given up trying to save its staff bonuses that were wiped out following the bank’s rescue by its rival UBS. Just over $400mn of deferred pay for Credit Suisse middle managers was reduced to zero as a result of the state-orchestrated takeover and several bankers are preparing lawsuits against Finma, the Swiss regulator, over their losses, the Financial Times reported this week. Credit Suisse had appealed to Switzerland’s Federal Administrative Court to protect the bonuses, which were linked to additional tier 1 bonds that were also wiped out.
- Reuters
UPDATE 2-UBS Chairman sees gain in customer balances following Credit Suisse rescue
UBS has been a net gainer in customer balances following its rescue of Credit Suisse , Chairman Colm Kelleher said on Wednesday, citing positive feedback from wealthy clients. Bank mergers can sometimes lead to turbulence, with clients withdrawing their cash, although this tended to happen very quickly, Kelleher told a WSJ event in London, while some clients come back. "I think the rot has stopped and we have clients coming back," Kelleher added, saying feedback from Credit Suisse clients about UBS had so far been positive.
ReutersUBS Chairman sees gain in customer balances following Credit Suisse rescue
(Reuters) -UBS has been a net gainer in customer balances following its rescue of Credit Suisse, Chairman Colm Kelleher said on Wednesday, citing positive feedback from wealthy clients. Bank mergers can sometimes lead to turbulence, with clients withdrawing their cash, although this tended to happen very quickly, Kelleher told a WSJ event in London, while some clients come back. "I think the rot has stopped and we have clients coming back," Kelleher added, saying feedback from Credit Suisse clients about UBS had so far been positive.
- Reuters
UPDATE 1-UBS in talks with Swiss authorities over Credit Suisse deal protections
UBS Group AG said on Tuesday it was in negotiations with Swiss authorities about loss protections related to its takeover of Credit Suisse Group AG and its regulatory capital requirements. The disclosure underscores how some aspects of the tie-up between the two banks, arranged hastily over a weekend in mid-March by the Swiss government to stave off a broader banking crisis, have yet to be ironed out. The Swiss government agreed at the time to shoulder up to 9 billion Swiss francs ($10.12 billion) in potential losses from the deal and offered liquidity assistance of up to 100 billion Swiss francs.
BloombergCredit Suisse Withdraws Appeal Over AT1 Writedown, Court Says
(Bloomberg) -- Credit Suisse Group AG withdrew an appeal over the writedown of AT1 bonds by Switzerland’s banking regulator, a Swiss court said. Most Read from BloombergMcCarthy, Graves Signal Impasse in White House Debt TalksChina’s New Covid Wave Set to See 65 Million Cases a WeekLuxury Stocks Lose $30 Billion in One Day on Demand FearsMcCarthy Says Debt Deal Remains Elusive as Negotiations ResumeWorld’s Richest Man Loses $11 Billion After LVMH Stock RoutCredit Suisse had argued that the wipeo
ReutersCredit Suisse managers' 2022 bonuses cancelled or cut by Swiss government
Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday by the Swiss Finance Ministry. The order affects the top three levels of Credit Suisse management and follows the multi-billion franc state rescue of Switzerland's second biggest bank. Governments rarely impose a complete halt to bonus payouts, but in Switzerland there has been public backlash against them at Credit Suisse, whose rescue earlier this year was backed by roughly 260 billion Swiss francs of state funding and guarantees.
ReutersStandard Chartered CEO: Credit Suisse sale to UBS was 'surprising'
DOHA (Reuters) -Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse to UBS was "surprising" given the "unusual" terms of the deal, which prioritised shareholders over bondholders. "The conclusion was very surprising to me, in terms of the way that the bank was resolved through this very unusual sale to UBS, with associated unusual payments to shareholders versus bondholders," Winters told an audience at the Qatar Economic Forum, organised by Bloomberg. Under the rescue deal, engineered by Swiss authorities over one March weekend amid global banking turmoil, UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.4 billion) in stock and to assume up to 5 billion francs in losses that would stem from winding down part of the business.
BloombergJulius Baer Shares Slump as Its Credit Suisse Spoils Disappoint
(Bloomberg) -- Julius Baer Group Ltd. slumped the most in a year after the Swiss wealth manager posted a weaker boost to its business than some analysts had expected after the turmoil at rival Credit Suisse Group AG. Most Read from BloombergChina’s $23 Trillion Local Debt Mess Is About to Get WorseBiden, McCarthy Stay Positive Though Debt Deal Remains ElusiveSaudi Energy Minister Tells Oil Speculators to ‘Watch Out’Parents Sue Elite Schools for ‘Indoctrinating’ Their Kids With Anti-Racist Polici
- Reuters
UPDATE 2-Credit Suisse bankruptcy event has not occurred - CDS panel
A derivatives committee ruled on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors' efforts to trigger a payout on credit insurance linked to the Swiss lender. The ruling was in response to an investor question about $17 billion in senior and subordinated bonds issued by Credit Suisse whose holders were wiped out when the Swiss bank was taken over by UBS in March in a state-assisted deal. It should not surprise investors who have read the Credit Suisse prospectuses, said Philip Jacoby, chief investment officer at Spectrum Asset Management in Stamford, Connecticut, one of the biggest holders of the bank's debt months before its takeover.
