Qatar doubles Credit Suisse stake as embattled lender forges ahead with strategic overhaul

"While strategically largely the right measures have been announced in our view, the execution of the group's transformation requires time to lower costs, regain operational momentum as well as reduce complexity funding costs. Hence, we expect subdued profitability, below its potential, even by 2025," said Benjamin Goy, head of European financials research at Deutsche Bank.

Central to Credit Suisse's new strategy is the spin-off of its investment bank to form CS First Boston, which will be headed by former Credit Suisse board member Michael Klein.Co-Head of European Banks Equity Research Amit Goel characterized Credit Suisse's earnings estimates as "more art than science," arguing that details remain limited on the earnings contribution from the businesses being exited.

"For Q422, we will be focused on what is driving the losses , whether there are any signs of stabilisation in the business, and if there is more detail on the restructuring," he added.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Qatar Investment Authority raises stake in Credit Suisse to just under 7%Qatar's sovereign wealth fund has increased its stake in Credit Suisse to just under 7%, becoming the Swiss bank's second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance.
Source: Reuters - 🏆 2. / 97 Read more »

Credit Karma to pay $3M over ‘deceptive’ credit card offers, feds sayAs part of a settlement, the credit score company will have to pay restitution to harmed consumers.
Source: njdotcom - 🏆 282. / 63 Read more »

Credit Karma tricked customers into thinking they were pre-approved for credit cards, FTC saysThe Federal Trade Commission on Monday ordered personal finance company Credit Karma to pay $3 million to customers the agency alleges were deceived into applying for products they weren't eligible for. Karma Karma The question is, will they pay it?
Source: CBSNews - 🏆 87. / 68 Read more »

Employee Retention Credit return times shorten - Jacksonville Business JournalWith deadlines approaching for one of the most lucrative Covid-19 relief programs, experts say business owners need to be proactive — but there is some good news.
Source: JaxBizJournal - 🏆 599. / 51 Read more »