Credit Suisse confirms shareholder meeting for capital hike By Reuters

© Reuters. FILE PHOTO: Switzerland’s national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland April 18, 2021. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – Credit Suisse Group AG on Tuesday confirmed an extraordinary general meeting will take place on November 23 for shareholders to approve a proposed capital increase.

The embattled bank is hoping to raise 4 billion Swiss francs ($4.01 billion) in fresh capital to fund its restructuring and pad its balance sheet following a string of scandals and losses.

($1 = 0.9982 Swiss francs)

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