(CercleFinance.com) – Credit Suisse has announced that it will complete its comprehensive strategic review, including potential divestments and asset sales. The bank will update the market when it releases its third quarter results on October 27, 2022.
The bank agrees to provide further details on the progress of the strategic review, including measures to strengthen the wealth management franchise, transform the Investment Bank into a capital-light banking business, etc.
Credit Suisse will also indicate how it intends to reduce the group’s absolute cost base to less than CHF 15.5 billion in the medium term, as indicated on July 27, 2022.
The board and senior management are considering alternatives that go beyond the findings of last year’s strategic review.
The goal is to create a more focused and agile group, with a significantly lower absolute cost base, capable of delivering sustainable returns to all stakeholders and top-notch service to customers.
The bank is currently implementing a number of strategic initiatives, including potential divestments and asset sales.
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