Credit Suisse To Close 14 Branches In Switzerland

2022-11-08 02:07:01

(MENAFN- Swissinfo) It is not known which Credit Suisse branches will be closed © Keystone / Michael Buholzer

Embattled Swiss bank Credit Suisse is to close 14 of its 109 branches in Switzerland by February 2023 as part of a comprehensive restructuring programme. A further two branches will be converted into advisory centres.

This content was published on November 8, 2022 - 13:42 November 8, 2022 - 13:42 Keystone-SDA/ts

Português (pt)

“This decision is mainly due to the changing habits of our clients, who are increasingly using our mobile and internet services,” a Credit Suisse spokesperson told AWP on Tuesday, confirming information from the Finews portal.

As part of recent restructuring and cost-cutting measures, the Zurich-based bank has accelerated the adjustment of its branch network, he added in an email.

He did not specify which branches were affected by the closures, but he stressed that the bank would remain present“in all regions of Switzerland”.

Employees affected by the closures would be supported in finding“new opportunities within Credit Suisse. A social plan is also available to them”.

Radical restructuring

Credit Suisse has suffered a string of setbacks in recent years by being on the wrong end of soured business deals and courtroom battles. Management is attempting to stop the rot with a radical overhaul of the bank's operations and strategy.

MENAFN08112022000210011054ID1105149505

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.