Credit Suisse Group AG has held talks with a number of banks about underwriting a potential capital increase in case it needs to shore up its balance sheet, Bloomberg Law reported on Friday, citing people familiar with the matter.
pledgedSwitzerland's second-largest bank is trying to recover from a series of scandals, including losing more than $5 billion from the collapse of investment firm Archegos last year, when it also had to suspend client funds linked to defunct financier Greensill Capital.for fresh cash, approaching them for the fourth time in around seven years as it attempts a radical overhaul of its investment bank.of as much as 9 billion Swiss francs in the coming years.
Credit Suisse is scheduled to release details of a much anticipated strategic review alongside third-quarter results on Oct. 27.Reporting by Akanksha Khushi in Bengaluru; Editing by Shounak Dasgupta
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