According to a media report, the major Swiss bank Credit Suisse is preparing a possible capital increase. Credit Suisse is working on a transaction with Morgan Stanley and Royal Bank of Canada, according to the Bloomberg news agency on Tuesday. The institute is thus preparing itself in the event that it has to pad the balance sheet for the planned restructuring of the group. Credit Suisse has positioned investment banks, including the Canadian and US institutes, for a possible sale of shares. A capital increase, which runs under the project name Ghana, could go ahead after the announcement of the new strategy on October 27th. After a series of failures, the bank, which is in the red, wants to reduce its risks. But the conversion will cost a lot of money. According to the report, Credit Suisse is trying to avoid a capital increase due to the current low valuation. However, should the planned sale of parts not bring in enough, a capital increase cannot be ruled out. If Credit Suisse decides to do so, it should be worth at least two billion dollars, according to the report. With the fresh money, the conversion and possible operational losses could be covered in the coming years. Credit Suisse declined to comment.
Major Swiss bank – Credit Suisse is apparently considering a capital increase – Economy
