Nothing seems to be going right for Switzerland's second-largest bank. Not even the publication of its annual report is straightforward.
Credit Suisse is delaying the publishing of its 2022 annual report planned for Thursday after receiving a late call from the US Securities and Exchange Commission (SEC) late Wednesday, according to a statement.
The call was related to certain open SEC comments about the technical assessment of previously disclosed revisions to the consolidated cash flow statements for the years 2020 and 2019, as well as related controls.
The financial results for 2022, as previously released, are not impacted by the delay.
Brief Delay
Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received, the statement added.
Credit Suisse suffered a loss of around 7.3 billion Swiss francs ($7.6 billion) in 2022 while losing 120 billion francs worth of client assets to competitors.
