The flash sale of Credit Suisse (CS) to UBS may have come as no surprise to many, who, despite the bank’s strong capital levels (common equity Tier 1 capital ratio of 14%), often mentioned the bank in the same breath as the words ‘doomed’ and ‘troubled’.
One only has to look at the bank’s financial performance over the past 12 to 18 months to see that it has had its fair share of financial woes, with 2022 going down as the worst year on record since the 2007-09 global financial crisis in terms of the bank’s profitability.
