Collapse of Credit Suisse: A Closer Look at the Crisis and Aftermath
The Credit Suisse saga unfolds from its tumultuous restructuring under Tidjane Thiam to its eventual collapse. The bank faced significant losses, including a record 7.3 billion Swiss francs in 2022, and was undermined by scandals involving Greensill and Archegos. As customers withdrew 110 billion francs in late 2022, efforts for a bailout ensued, culminating in a takeover by UBS in March 2023. The fallout continues with an ongoing parliamentary investigation set to deliver its report in 2024.