Credit Suisse has successfully completed its capital increase despite the roller coaster ride of its shares. Bank boss Ulrich Körner now has over four billion to rehabilitate the ailing bank. Many shareholders of the Swiss financial institution subscribed to the fresh shares offered to them, bringing in a gross amount of CHF 2.24 billion. Last month, the people of Zurich had already raised CHF 1.76 billion. As a result, the Saudi Arabian commercial bank SNB will become the largest shareholder with almost ten percent. After the billions in losses over the past two years, the recent churn of customers and the associated slump in the share price, Credit Suisse is now trying to counteract this. The funds from the capital increase are intended to finance the exit from large parts of the investment bank and the reduction of 9,000 jobs.
Banks – New money for Credit Suisse – Economy
