“We expect the 2023 loss to increase to such an extent that its capital adequacy could be under threat,” Morningstar analyst Johann Scholtz said in a note.
Credit Suisse Group’s funding costs have become so high it either needs to raise more capital or face a break up, Morningstar analyst Johann Scholtz said in a note.
The Swiss lender’s chief executive officer Ulrich Koerner on Tuesday preached patience and said the bank’s financial position is sound.The alternative would be “a breakup” of the bank in which its various business lines such as the Swiss unit, asset manager and wealth management divisions could be “sold or listed separately”.
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