Credit Suisse says share buybacks continue

FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Bern
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann

March 18, 2021

ZURICH (Reuters) – Swiss bank Credit Suisse is continuing its share buyback programme as it wrestles with the fallout from the collapse of around $10 billion of funds related to British supply chain financier Greensill, it said on Thursday.

“Our guidance for the CET1 ratio of a minimum of 12.5% for at least the first half of 2021 remains unchanged, as does our guidance for the share buyback, which we continue to execute,” it said in a statement.

It has targeted to buy back at least 1 billion Swiss francs ($1.08 billion) worth of stock this year.

($1 = 0.9255 Swiss francs)

(Reporting by Oliver Hirt; Editing by Michael Shields)