Credit Suisse CFO teams to hold talks this weekend on scenarios for bank, sources say
Credit Suisse will be holding meetings over the weekend to assess scenarios for the bank as it struggles to regain confidence from the market, people with knowledge of the matter told Reuters on Friday.
The meetings will involve teams reporting to Chief Financial Officer Dixit Joshi, the people said. Executives will run through the numbers and formulate scenarios that might reshape Credit Suisse's future, the sources added.
Credit Suisse declined to comment.
On Thursday, the bank said it would seek a $54 billion loan from the Swiss National Bank after its customers pulled more than $100 billion in funds in recent months and its shares plunged 25% on Wednesday.
The emergency lifeline has provided the embattled lender with some relief but its shares resumed their descent on Friday.
With investor confidence still weak, some analysts have said the loan facility has only bought Credit Suisse time to work out what to do next strategically to restore profitability.