Credit Suisse Offers Rare Example of Bank Disclosing EM Debt
- Global banks backed 2019 agreement to boost EM loan visibility
- Private credit makes up over 60% of loans to poor countries
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Credit Suisse is one of a handful of global banks publicly disclosing some loans to poor countries, as most of the rest of the industry instead clings to secrecy, according to a fresh study.
The Swiss bank, which was absorbed by UBS Group AG in a government-engineered takeover earlier this year, stands out for its relative transparency around such lending, according to research by UK nonprofit Debt Justice, which looked at multiple data sets spanning the past half decade and through the first half of 2023. The only other bank found to provide similar disclosures was Mitsubishi UFJ Financial Group, the analysis showed.