Securities of Swiss financial conglomerate Credit Suisse tumbled more than 11%. to witness SIX Swiss Exchange data.
On March 13, the group’s shares fell to CHF 2.1 per share, the lowest level in the history of the credit institution. At 18:50 (Moscow time), Credit Suisse papers were trading at 2.2 francs. The drop in the bank’s shares comes amid record losses and a massive customer exit.
Last week, David Herro, Executive Vice President and Chief Investment Officer of Harris Associates Investment declarationthat the company has disposed of its 10% stake in Credit Suisse. Harris was the largest and oldest shareholder of a Swiss bank.
At the end of last week, the press service of the Federal Deposit Insurance Corporation (FDIC) reported About the destruction of the American Silicon Valley Bank (SVB).
British Treasury Secretary Jeremy Hunt declarationHe said the ministry has begun developing a plan to minimize the damage from the consequences of the SVB bankruptcy.
Source: Gazeta
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