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Credit Suisse gets lifeline of $54 bn. Now it's time to win back clients

The bank has consistently said it has sufficient liquidity, a position the backstop only strengthens

Credit Suisse
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Photo: Bloomberg

Bloomberg
By Marion Halftermeyer, Chanyaporn Chanjaroen and Steven Arons

The $54 billion lifeline won by Credit Suisse Group AG on Thursday gives it a fighting chance to rebuild its business. Some clients aren’t waiting around to find out how that goes.
 
In Asia, several ultra-wealthy clients continued to cut back their exposure amid the tumult this week. In the Middle East, some customers asked the bank to convert cash deposits into treasury bills and bonds. An executive at a rival European bank said they’re seeing some deposits shifting from Credit Suisse, although the amount isn’t yet sizable.

Such attrition, if

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First Published: Mar 17 2023 | 3:42 PM IST

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