Weak financials, shaky management: What's wrong at Credit Suisse?

Credit Suisse's share price has fallen nearly 60 per cent in 2022, more than halving its market cap in just a matter of months

Switzerland's second-largest bank, Credit Suisse, has been in the news due to its falling share price, shaky financials, and repeated management revamp. In the last year, the bank's valuation has fallen nearly 60 per cent.

Credit Suisse's current market cap is $10.8 billion. In October 2021, it was over $25 billion.

For investors, the development has brought back fears of a 2008 Lehman Brothers-like crisis. Thus far, all efforts to allay such fears have failed to make an impact.

In a memo released by the bank's CEO, Ulrich Koerner, to the staff, he assured them that the bank has a