ADVFN - Advanced Financial Network.
HOME» NYSE » C » CS Stock Price » CS Stock News

Credit Suisse Grp. Share News

 Credit Suisse Grp. Stock Price
CS Stock Price
 Credit Suisse Grp. Stock Chart
CS Stock Chart
 Credit Suisse Grp. Stock News
CS Stock News
 Credit Suisse Grp. Company Information
CS Company Information
 Credit Suisse Grp. Stock Trades
CS Stock Trades

Credit Suisse Sees Group, Units Profitable in Second Quarter

--Bank's shares fell to 20-year low this week --Credit Suisse announcement nearly a month before earnings due --Second surprise announcement in one week By Anita Greil ZURICH--Credit Suisse expects to be profitable in the second quarter, Switzerland's No. 2 bank said in a surprise statement Friday, nearly a month before it is scheduled to report detailed earnings. The forecast of a profitable second quarter for the group and all its divisions is the second surprise announcement in a week by the bank, which saw its shares drop to a 20-year low this week after it was caught up recently in an unusual public spat with Switzerland's central bank over whether Credit Suisse's capital cushion is adequate. A week ago, in another unusual move, the board of Credit Suisse issued a statement on Friday to back Chief Executive Brady Dougan, saying it is confident that management's plans to bolster capital will ensure the bank meets and exceeds regulatory requirements. The spat with the central bank stems from the fact that some of Credit Suisse's capital is still held in the form of bonds that will turn into equity later. The bank more than meets current requirements, but under the stricter Basel III rules, which will come into force in 2019, this capital doesn't count. The central bank focused on that, saying that if the euro zone crisis turned markedly worse, such equity capital would be lacking. To boost capital, Credit Suisse could bring forward the exchange of two bonds with a face value of 6 billion Swiss francs ($6.2 billion) into a form of equity. This exchange was planned for late 2013. The two big Middle East investors who bought the bonds in 2008 signaled that they may agree to an early exchange under certain conditions, Swiss daily Tages Anzeiger reported Friday, citing sources closed to the board. Credit Suisse declined to comment on this plan. At 0815 GMT, Credit Suisse shares were up CHF0.48, or 3% at CHF17.06. The shares have lost around a fifth of their value this year to trade around a 20-year low. And since their most recent peak in late 2009, they have lost more than 70% of their value. -Write to Anita Greil at anita.greil@dowjones.com

Stock News for Credit Suisse Grp. (CS)
DateTimeHeadline
07/29/201517:17:00Credit Suisse Announces Expected August Coupon Amounts on its...
07/29/201509:39:00Credit Suisse Releases Mid-Year Hedge Fund Investor Sentiment...
07/27/201508:00:00Credit Suisse Announces Coupon Amounts on its Credit Suisse X-Links...
07/27/201502:00:04Instant-Messaging Company Symphony Seeks New Investment
07/23/201517:31:15ADRs End Lower; Credit Suisse Rises
07/23/201506:26:16Credit Suisse Swings to Profit -- 4th Update
07/23/201505:34:24Credit Suisse Swings to Profit -- 3rd Update
07/23/201503:45:07Credit Suisse Swings to Profit -- 2nd Update
07/23/201501:35:07Credit Suisse Swings to Profit -- Update
07/23/201501:20:20Credit Suisse Swings to Profit
07/23/201501:07:14Credit Suisse Swings to Profit
07/21/201506:54:43Credit Suisse Group AG 2Q 2015 -- Forecast
07/15/201510:21:00The Credit Suisse Hedge Fund Index finished down 1.31% in June
07/14/201509:00:00June Sees Fundamental Factors Drive Commodity Markets Higher
07/07/201517:18:00Credit Suisse Announces Coupon Amount on its Credit Suisse S&P...
07/07/201504:30:17European Stocks Hold Steady
07/06/201516:30:00Credit Suisse Announces Expected July Coupon Payments on its...
07/05/201523:40:17Blackstone Group Hires New China Chairman
07/03/201518:30:28New Credit Suisse CEO Reins in Hopes for a Quick Fix
07/02/201516:44:38Brazil Antitrust Agency Investigating Banks for Suspected Rate...

Credit Suisse Grp. and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad