Investors are worried about the financial health of Credit Suisse after the bank’s shares plunged.
The bank’s Chief executive attempted to reassure investors last week, but his efforts seem to have fallen short.
Credit Suisse is due to unveil a restructuring plan at the end of the month, and many are concerned that it won’t be able to weather the storm.
Its shares fell by about 10%, before recovering slightly, after the bank’s boss failed to reassure investors.
Last week’s the bank’s CEO tried to reassure investors that the bank’s financial foundations are solid.
A report in the Financial Times claims that executives at the Swiss bank spent much of the weekend seeking to calm key stakeholders about its financial strength.
Shares in Credit Suisse have been sliding over the past year amid fear’s over the bank’s financial position.
In July, the bank announced a strategy review and replaced its chief executive with an asset management expert.
According to Reuters, the Bank of England is monitoring the situation together with Swiss regulators.
The bank has been hit by scandal after scandal.
And now the market moves suggest some investors believe the bank is running out of cash.
They can only hope the restructuring effort can right the ship.
