Credit Suisse targets buyback and payouts to shareholders despite earnings miss
The bank will buy back at least Sf1bn of shares for 2021 and plans to diverge from most European lenders by distributing the second half of its dividend end-November
29 October 2020 - 18:24
Zurich — Credit Suisse is targeting as much as Sf1.5bn ($1.65bn) of stock repurchases from 2021, relying on stronger capital to boost returns after third-quarter profit missed estimates.
Net income dropped to Sf546m, compared with expectations of Sf597m. Results were dragged lower by the bank’s key international wealth management and Swiss businesses, while the newly formed combined investment bank and Asia business offset some of the declines...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.