Credit Suisse CEO: bank doesn’t need "new capital"

According Tidjane Thiam, Credit Suisse CEO, the bank does not need a further capital increase. In an interview given to the agency Bloomberg, the manager claims that, in the light of most of the scenarios, the institute does not need an additional injection of money.

Meanwhile, the bank continues with the restructuring; the process, which will involve the sacrifice of 6,000 jobs, calls for strengthening of asset management at the expense of the investment bank.

According to Thiam, the only way to increase the institution's profitability is the cost reduction. After all, at the end of a company is evaluated for its growth, it has justified the CEO of Credit Suisse does not intend to back down regarding the strategy pursued by the bank.

Thiam does not expect even larger acquisitions in the sector in the light of the strict conditions imposed on banks "too big to fail". Even without detecting other companies, according to Thiam Credit Suisse has a good chance of growth, especially in Asian markets and the US market but also in Europe.

The manager said he was unhappy with the current course of action, with the title that has lost almost 60% from August 2015, Thiam said that the title will recover.