By Kuldip K. Ambastha
On the trading day of February 9, 2023, the stock price of Credit Suisse Group AG (CS), a Swiss financial institution, fell by -15.6% per share. (See past coverage if needed: “What Caught Our Attention in the Investment World? – Week of October 24-28, 2022; By Kuldip K. Ambastha.”) Credit Suisse’s 4Q2022 results were less than ideal, with a negative earnings per share figure (-$0.50) reported, and its wealth management arm has struggled mightily with outflows from an assets under management perspective. For the full year of 2022, the institution disclosed a loss of $7.9 billion. Credit Suisse may need to be overhauled massively to regain the confidence of investors.
Keywords – Credit Suisse Group AG, Credit Suisse Group, Credit Suisse, CS, Switzerland, Swiss, financial institution, 4Q2022, earnings per share, wealth management, assets under management, 2022, loss, confidence, investors.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in CS.
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