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Share prices of the Swiss bank Credit Suisse fell by 63.7%

Finance

20 March 2023, 19:40

According to the Swiss TV channel RTS, the shares of the Swiss bank "Credit Suisse" fell by 63.7% at the opening of trading on the Zurich stock exchange on Monday, and the claims of the UBS bank decreased by 8.77%.

On March 19, the Swiss government approved UBS's acquisition of Credit Suisse and provided guarantees to the country's national regulator to ensure Credit Suisse's liquidity. The value of the takeover transaction will be $3.24 billion. Earlier, Credit Suisse issued a report admitting weakness in internal controls. In an interview with Bloomberg, the bank's executive director, Ulrich Koerner, reported on the continuous flow of customers.

 

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