Deals
Credit Suisse Plans $15.6 Billion Capital Increase
This article is for subscribers only.
Credit Suisse Group AG Chief Executive Officer Brady Dougan succumbed to pressure from the central bank and senior executives within his firm to increase capital by 15.3 billion francs ($15.6 billion).
The lender will also cut an additional 1 billion francs in costs by the end of 2013, the Zurich-based bank said in a statement today. Second-quarter net income rose 2.6 percent to 788 million francs from a year earlier, the company said. Credit Suisse shares rose as much as 6.8 percent.