Credit Suisse: The 'Credit Locomotive' Has Run Out Of Steam

(MENAFN- Swissinfo) Credit Suisse ski hats are cult items: in the late 1970s, the bank distributed 800,000 hats to current and future customers. They have shot up in value on eBay since last weekend's rescue operation. Keystone

The history of Credit Suisse epitomises the transformation of the Swiss financial industry from discreet bankers who profited from capital flight and banking secrecy to risk-taking investment bankers.

This content was published on March 22, 2023 March 22, 2023 minutes David Eugster / SRF
  • Deutsch (de) credit suisse: der "dampfmaschine des kredits" ist die puste ausgegangen (original)
  • Español (es) credit suisse: la "locomotora de vapor del crédito" se ha agotado
  • Português (pt) credit suisse: a "máquina a vapor de crédito" perdeu o fôlego
  • 中文 (zh) "信贷蒸汽机":瑞士信贷银行终“气绝”
  • عربي (ar) كريدي سويس: قصة تحول من مصرف أمين إلى المخاطرة القاتلة
  • Français (fr) credit suisse: la «machine à vapeur du crédit» n'a plus de souffle
  • Pусский (ru) история банка credit suisse: взлет и падение «кредитного монстра»
  • 日本語 (ja) クレディ・スイス、息切れした「信用の蒸気機関」 160年の歴史
  • 中文 (zh) 信貸蒸汽機:瑞士信貸銀行終“氣絕”
  • Italiano (it) credit suisse, la "macchina a vapore del credito", si è inceppata

Back in the 1980s, people might have been forgiven for believing that Switzerland belonged to Schweizerische Kreditanstalt (SKA), as Credit Suisse was then called. Thousands of Swiss children used to wear cherry-red and sky-blue Schweizerische Kreditanstalt hats with a stylised cross on it. Malicious voices even blamed the bank for a nationwide plague of lice in schools because the children were forever getting their hats mixed up. By 1977, 800,000 hats had been distributed; this popular freebie remained in production until 1993. The Swiss equivalent of the Volkswagen Golf car generation in Germany was the Schweizerische Kreditanstalt generation.



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