Shareholder Harris says Credit Suisse doesn't need equity rise
Reuters
Published May 31, 2022 05:12AM ET
Updated May 31, 2022 11:36PM ET
LONDON (Reuters) - Major Credit Suisse shareholder Harris Associates sees no need for the Swiss bank to raise fresh equity capital, it said on Tuesday after Reuters reported the bank was weighing options to shore up its balance sheet.
"Given the strength of their balance sheet today, we agree with the company's statement that no new equity raise is necessary," David Herro of Harris Associates told Reuters.
Harris Associates holds a stake of around 5.2%, according to the bank's https://www.credit-suisse.com/about-us/en/investor-relations/shareholders/significant-shareholders.html website, making it the biggest shareholder.
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Written By: Reuters
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