Credit Suisse ponders plan to revive ‘bad bank’, FT(1) reports and other news

Published by
Peter Kavinsky

September 22, 2022 at 5:36 am

Credit Swiss Group AG is considering plans to revive the “bad bank” to hold risky assets as it seeks a way out of losses and scandals, the Financial Times said, citing people familiar with the matter.

According to the proposals, the investment bank can be divided into three parts, including an advisory business group; a “bad bank” for holding high-risk assets that will be folded; and other cases, according to the publication.

“We said we’ll report progress on our comprehensive strategy review when we announce third-quarter earnings,” Credit Suisse said in a statement.

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