Credit Suisse delays 2022 annual report after ‘delayed call’ from SEC

Workers walk past a bank branch of Credit Suisse Group AG in Geneva, Switzerland, Thursday, September 1, 2022.

Jose Sendon | Bloomberg | Bloomberg | Getty Images

credit suisse On Thursday, it said it would delay issuing its 2022 annual report after a delayed call from the U.S. Securities and Exchange Commission Wednesday night.

In a statement, a bewildered Swiss lender issued a “technical evaluation of previously disclosed amendments to its consolidated cash flow statements for the years ended December 31, 2020 and December 31, 2019, and related said the conversation was related to the SEC’s comments on “controlling

“Management believes it prudent to temporarily delay the release of the account in order to more fully understand the comments received. We confirm that our financial results will not be affected by the above,” the bank said. .

The annual report was due to be released Thursday morning. February 9th, Credit Suisse reported a massive net loss of CHF 7.3 billion ($7.8 billion) for the full year 2022. And it telegraphed another “substantial” full-year loss this year.

In October, the bank announced plans to simplify and transform its business to restore stable profitability after a string of investment banking underperformance and risk and compliance failures.

In late February, Swiss regulator FINMA said Credit Suisse had Bankrupt supply chain finance firm Greensill Capital.

Credit Suisse shares closed Wednesday at around CHF 2.68 per share, down 3.22% since the beginning of the year.

This is a developing story and will be updated soon. Credit Suisse delays 2022 annual report after ‘delayed call’ from SEC

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