Published 1 year ago

Credit Suisse publishes delayed annual report in which it admits to financial control weaknesses

Summary by RTÉ

Credit Suisse released its delayed annual report on Tuesday in which it identified "material weaknesses" in its internal controls over financial reporting and said it had not yet stemmed customer outflows.

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Times of India

Credit Suisse says outflows have stabilized but not reversed

Battered by a string of scandals, the bank saw a sharp acceleration in customer withdrawals in the fourth quarter, with outflows of more than 110 billion Swiss francs ($120 billion), which made it breach some liquidity buffers.

1 year ago·India

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The Guardian

Credit Suisse warns of ‘material weaknesses’ in financial reporting

Swiss bank’s shares fall as annual report reveals another blow to its bid to recover from string of scandals

1 year ago·London, United Kingdom

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Reuters

Credit Suisse flags 'material weaknesses' in reporting, outflows not reversed

Credit Suisse said in its 2022 annual report the bank has identified "material weaknesses" in internal controls over financial reporting and not yet stemmed customer outflows.

1 year ago·United Kingdom

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CNN

Credit Suisse finds 'material weakness' in its financial reporting, scraps exec bonuses

Credit Suisse acknowledged "material weakness" in its financial reporting Tuesday as it scrapped bonuses for top executives in the wake of the bank's worst annual performance since the global financial crisis.

1 year ago·Atlanta, United States

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Irish Independent

Credit Suisse finds ‘material weakness’ in financial reporting

Credit Suisse Group AG said it had identified "material weaknesses" in its reporting procedures for the financial years 2022 and 2021 and is adopting a remediation plan.

1 year ago·Ireland

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KIFI

Credit Suisse finds 'material weakness' in its financial reporting, scraps exec bonuses

By Hanna Ziady, CNN Credit Suisse on Tuesday acknowledged “material weakness” in its financial reporting as it scrapped bonuses for top executives in the wake of its worst annual performance since the global financial crisis. The embattled Swiss bank also said that chairman Axel Lehmann had proposed to “voluntarily waive” a share award worth 1.5 million Swiss francs ($1.6 million) for the 2022/2023 financial year, given the firm’s “poor financi…

1 year ago·Idaho Falls, United States

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