Credit Suisse Shares Rallied 1.8% in Premarket Trading

Tiger Newspress2022-10-17

Credit Suisse shares rallied 1.8% in premarket trading.

Credit Suisse has agreed to pay $495 million to settle a case brought against it in the United States, the latest pay-out related to past blunders that have battered the Swiss bank's reputation.

Credit Suisse said it would make the pay-out to settle claims brought by the New Jersey Attorney General related to the bank's residential mortgage-backed security (RMBS) business before 2008.

The attorney general's office alleged that Credit Suisse had "misled investors and engaged in fraud or deceit in connection with the offer and sale of RMBS."

In addition, Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around 4.5 billion Swiss francs ($4.48 billion), the Financial Times reported on Saturday, citing people familiar with the matter.

The parts that are being considered for sale include a stake in the SIX Group, which runs the Zurich stock exchange, an 8.6% holding in Madrid-based tech company Allfunds, two specialist Swiss banks, Pfandbriefbank and Bank-Now and Swisscard, a joint venture with American Express, the newspaper added.

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Comments

Dragonroar
2022-10-17
Dragonroar
Wow
carroll
2022-10-17
carroll
Good
- Alexiss:
  Ok
carroll
2022-10-17
carroll
Hi
- Dragonroar:
  wow
- Ichua:
  Hi
- Jennifer58:
  Yeah
1000010101O
2022-10-17
1000010101O
[Smile]
- shoude:
  [What]

Leave a comment

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