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Investment bank Credit Suisse has its fair share of troubles; over the last 6 months, a falling share price along with quitting investors has the 166-year-old company implementing strategies that should stimulate recovery.
Source: Pexels (Andrea Piacqaudio)
Credit Suisse’s share price is currently 4.38 CHF (Swiss francs), a historic low.
The troubled health of the financial company has spurred several wealthy families across the middle east and Asia to withdraw hundreds of millions of dollars.
Ulrich Körner, CEO of Credit Suisse AG, has assured internal staff in a memo, explaining that many inaccurate facts were being put out on mainstream media.
He urged staff to remain committed ahead of the transformation plan, which will be unveiled on the 27th of October.
To combat its falling share price and investors' dipping confidence, Credit Suisse has gone ahead with two major initiatives; a tender offer to buy back 3 billion CHF worth of debt securities and the onboarding of Dixit Joshi as Chief Financial Officer.
The move to buy back debt can be split into two cash tender offers: a $1 billion offer in relation to eight euro or pound sterling denominated senior debt securities and a $2 billion offer in relation to twelve U.S dollar denominated senior debt securities.
With everything going on in the financial world at the moment, it seems like this current bear market is shaping up to be unlike any other.
Could these recent Lehman Style developments lead to Bitcoin and other commodities like Gold and Silver to price reversals?
Could this be the next huge buying opportunity?
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