Credit Suisse CEO said bank's liquidity basis is "very very strong" By Reuters

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Credit Suisse CEO said bank's liquidity basis is "very very strong"

Stock Markets Mar 16, 2023 09:42AM ET

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Credit Suisse CEO said bank's liquidity basis is

(Corrects the source of the interview in first paragraph)

ZURICH (Reuters) - Credit Suisse Chief Executive Ulrich Koerner spoke of the strength of the Swiss lender's liquidity basis in an interview with CNA on Wednesday, after its share price dropped more than 30% following comments by the company's lead investor.

"Our capital, our liquidity basis is very very strong," Koerner said. "We fulfill and overshoot basically all regulatory requirements."

Earlier, Credit Suisse's largest shareholder, Saudi National Bank, said it would not buy more shares in the Swiss bank on regulatory grounds.

A 30% drop in Credit Suisse shares triggered a 6% plus fall in the European banking index, while five-year credit default swaps (CDS) for the flagship Swiss bank hit a new record high, highlighting increasing investor concerns.

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