The actions of Credit Suisse on the Zurich Stock Exchange they fall 6% for now on the Zurich Stock Exchange, once again approaching record lows, given rumors that the entity’s president, Axel Lehman, could be being investigated by the financial regulator of Swissthe Finma.
According to information in the economic press, Finma is examining whether Lehman’s recent statements about the return of liquidity to the bank when it suffered a capital flight at the end of last year, in the midst of its financial and image crisis, are true.
The Swiss regulator would investigate whether Lehman and other executives of the second largest bank in Switzerland by market volume knew that the entity’s capital was falling rapidly while the contrary was publicly stated, according to information that appeared today, not confirmed by Finma or by Credit Suisse.
Affected by its exposure to risk firms with financial problems such as Archegos or Greensill, Credit Suisse suffered last year the withdrawal of liquidity worth 123.2 billion Swiss francs (124 billion euros), much of it in the fourth quarter , as the firm acknowledged in its annual report.
Despite this, Lehman told Swiss public radio RSF in December that money outflows from the bank “had stabilized”, which could have misled potential investors, according to alleged Finma investigations.
The bank announced on February 9 losses of 7,293 million Swiss francs (about 7,400 million euros) in 2022, the year in which it announced an ambitious restructuring plan to get out of its crisis.
The plan implies the dismissal of 9,000 employees globally and a 15% cut in its expenses, in addition to a capital increase worth 4,000 million francs (4,050 million euros).
Source: EFE
Source: Gestion
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