Streetbeat News

Credit Suisse Group AG

https://www.credit-suisse.com/

CEO

Thomas Gottstein

Employees

51,410

Industry

Investment Banking and Securities Dealing

Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland.

Open

0.87

Mkt cap

3.5B

Volume

64M

High

0.89

P/E Ratio

-0.31

52-wk high

6.08

Low

0.87

Div yield

N/A

52-wk low

0.82

UBS Group AG has signed a loss protection agreement with the Swiss government following its acquisition of Credit Suisse Group AG. The deal states that UBS will handle potential losses of the first CHF 5 billion, and the Swiss government will cover losses of the next CHF 9 billion. UBS will also pay the Swiss government a guarantee fee.

Portfolio Pulse from Lekha Gupta

June 09, 2023 | 10:49 am

Credit Suisse and its joint venture partner are seeking buyers for their China securities brokerage business. Citigroup initially showed interest but has since withdrawn.

Portfolio Pulse from Charles Gross

June 09, 2023 | 9:08 am

UBS Group expects to complete its transaction with Credit Suisse in Q2 of 2023, assuming all conditions are met or waived. However, the actual completion date or whether the deal will be completed at all remains uncertain.

Portfolio Pulse from Charles Gross

June 06, 2023 | 10:29 am

Apple is set to debut its VR headset at its annual developer conference, while US regulators plan to enforce stricter capital requirements for large banks. Grail's software error causes cancer misdiagnosis, potentially impacting Illumina's acquisition plans. Sony explores AI for cloud gaming, and JPMorgan employs blockchain for interbank transactions in India.

Portfolio Pulse from Vandana Singh

June 05, 2023 | 1:45 pm

UBS Group AG expects to complete the acquisition of Credit Suisse Group AG by June 12, 2023. The deal is subject to SEC approval and other conditions. Credit Suisse shareholders will receive one UBS share for every 22.48 shares they own, and Credit Suisse shares will be delisted from the SIX Swiss Exchange and the NYSE.

Portfolio Pulse from Lekha Gupta

June 05, 2023 | 9:41 am

UBS CEO announced that they hope to complete the Credit Suisse deal in the next few days, having received approvals from over 170 authorities.

Portfolio Pulse from Charles Gross

June 02, 2023 | 10:03 am

Credit Suisse (NYSE:CS) has scrapped plans to set up a locally incorporated bank in China due to potential regulatory conflicts arising from its merger with UBS Group (NYSE:UBS). The move could impact the banks' ability to expand their onshore wealth management business and presence in China.

Portfolio Pulse from Akanksha Bakshi

May 31, 2023 | 12:31 pm

Credit Suisse has dropped plans to set up a locally incorporated bank in China to avoid potential regulatory issues related to its merger with UBS.

Portfolio Pulse from Charles Gross

May 31, 2023 | 8:57 am

UBS has received EU antitrust approval for its takeover of Credit Suisse, paving the way for the merger of the two Swiss banking giants.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 2:13 pm

The Federal Department of Finance has issued an order to cancel or reduce outstanding variable remuneration for top management at Credit Suisse, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 3:12 pm

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