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Credit Suisse Zeitleiste infographic
Grafik zeigt den Wertverlust an Marktkapitalisirung und jüngste Skandale der Credit Suisse.
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BANKING

Probleme sorgten für Abstieg der Credit Suisse

By Duncan Mil

March 20, 2023 - Globale Bankaktien verloren am Montag (20. März) wieder an Wert, obwohl die UBS den umstrittenen Rivalen Credit Suisse um $3 Milliarden Schweizer Franken übernommen hat - nur vier Prozent ihres Wertes im Dezember 2009.

The government-brokered deal came after days of market upheaval following the collapse of two U.S. lenders -- Silicon Valley Bank and Signature Bank.

Credit Suisse’s demise was a long time coming, with years of scandals, multi-billion dollar losses, and leadership changes.

In June 2022, the bank paid $2 million in fines after failing to prevent money laundering by a Bulgarian cocaine trafficking gang.

A Bermuda court ruled in March that former Georgian Prime Minister Bidzina Ivanishvili and his family are due damages of more than half a billion dollars from Credit Suisse as a result of a long-running fraud committed by a former Credit Suisse banker, Pascale Lescaudron.

A Swiss court convicted Lescaudron in 2018 on charges of fraud and forgery.

Comments by Saudi National Bank -- Credit Suisse’s main shareholder -- that it would not invest more money in the bank sparked market panic and the emergency takeover by UBS.

Sources
PUBLISHED: 20/03/2023; STORY: Graphic News
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