CNBC
•Business
Business & Economics
72% Informative
Credit Suisse received a liquidity lifeline from the Swiss National Bank after its share price plunged to an all-time low.
The troubled bank's stock has been in persistent decline since the crisis, against the backdrop of investment banking underperformance and a litany of scandals and risk management failures.
Current CEO Ulrich Koerner took over from Thomas Gottstein in July, as poor investment bank performance and litigation provisions continued to hammer earnings.
Credit Suisse forced to delay its 2022 annual report after a late call from the U.S. Securities and Exchange Commission.
Saudi National Bank said it was not able to provide any more cash to the company due to regulatory restrictions.
Shares dived 24% to an all-time low on Wednesday, despite SNB clarifying that it still believed in the project.
VR Score
81
Informative language
87
Neutral language
20
Article tone
formal
Language
English
Language complexity
56
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links