Credit Suisse Group AG stated Thursday that it’ll delay the publication of its 2022 report after a late name from U.S. market regulators over 2019 and 2020 cash-flow statements, including an additional headache because the lender makes an attempt to woo again shoppers amid a expensive turnaround effort.
The Swiss financial institution
CSGN,
CS,
stated it obtained a name from the U.S. Securities and Exchange Commission on Wednesday in relation to sure open SEC feedback concerning the technical evaluation of beforehand disclosed revisions to its consolidated cash-flow statements within the 2020 and 2019 fiscal years in addition to associated controls.
“Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received,” Credit Suisse stated.
The firm stated it wouldn’t have an effect on its 2022 monetary outcomes launched early in February.
Credit Suisse’s share value hit a low within the weeks for the reason that 2022 outcomes on uncertainty about its future, with analysts fearing that current massive outflows from clients will hinder a restoration.
Write to Ed Frankl at edward.frankl@wsj.com
Source web site: www.marketwatch.com
