But President Lehmann does not want to do anything with state aid!

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Investors’ confidence in Credit Suisse is decreasing day by day. On Wednesday morning, CS share price crashed again, dropping more than 10 percent, thus hitting an all-time low. The rate drops below 2 francs for a short time for the first time.

Customers are also fleeing the big bank. “Tages-Anzeiger” reported that Swiss customers alone drew CHF 51 billion in customer deposits last year.

However, state aid is “no problem” for CS President Axel Lehmann (64). He said this at a conference in Saudi Arabia, according to the Bloomberg news agency.

Lehmann doesn’t want to know anything about the parallels between CS and the recently bankrupt Silicon Valley Bank. Banks are arranged differently. “We have strong capital ratios and a strong balance sheet,” Lehmann reassures. The big bank is “on the right track” thanks to the restructuring program. “We’ve already taken the medicine,” Lehmann continues.

Credit Suisse is ready for emergencies

CS’s CET1 capital ratio rose slightly to 14.1 percent in the fourth quarter. The bank should always keep its core capital ready for possible crises. In Switzerland, a quota of 7 percent of equity is envisaged. Therefore, CS has more resources than necessary and is therefore well prepared for emergencies.

But savers need not worry too much. Customer deposits up to CHF 100,000 are protected even if bankruptcy occurs. This means that the customer always gets back the first 100,000 francs. No guarantee after that.

Source :Blick