Credit Suisse Chairman Axel Lehmann continues his media tour to stop the spiral of negative news. He provided some reassuring news.
The business of Credit Suisse is «definitely stable», explained bank Chairman Axel Lehmann yesterday on the Swiss television SRF program «Eco Talk». Client outflows have also stabilized, added the top Credit Suisse banker, visibly pleased that the bank's share price had recently been quoted above the 3-Swiss franc mark again.
First Reflows Observed
Trading of the subscription rights as part of the new capital increase at Switzerland's second-largest bank is still underway. The issue price of the new shares is set at 2.52 francs. Theoretically, shares cannot fall any lower. Nevertheless, the price has fallen almost continuously over the past two weeks.
On the occasion of an extraordinary general meeting, CS announced a loss of billions for the fourth quarter and warned of outflows of almost 84 billion francs. President Lehmann now spoke on television that assets would flow back, especially in the Swiss home market.
