The sale involves, among other things, a share in the stock exchange operator SIX.
(Photo: dpa)
Bangalore According to a newspaper report, the crisis-ridden major bank Credit Suisse is preparing to sell parts of its Swiss business. This is how the bank wants to raise funds, the Financial Times newspaper wrote on Saturday, citing people familiar with the process. It is about a share in the stock exchange operator SIX, a stake in the Madrid technology company Allfunds, the Pfandbriefbank and Bank-Now in Switzerland and Swisscard, a joint venture with American Express.
“We will update on the progress of our comprehensive strategy review when we announce our third quarter results,” Credit Suisse said in a statement to Reuters. On Friday, the Spanish newspaper “Cinco Dias” reported on a possible sale of an Allfunds stake.
Credit Suisse wants to announce a new strategy at the end of the month. Analysts assume that the institute wants to further reduce investment banking. In order to bolster the balance sheet, the bank could sell parts of the business and potentially tap into shareholders again.
More: Report on investigations by the US tax authority depresses Credit Suisse shares
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