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Credit Suisse chairman says outflows have basically stopped

Axel Lehmann, chairman of Swiss bank Credit Suisse, poses for a portrait at the lender's office in SingaporeAxel Lehmann, chairman of Swiss bank Credit Suisse, poses for a portrait at the lender's office in Singapore, August 30, 2022. REUTERS/Anshuman Daga

ZURICH, Dec 2 (Reuters) – Credit Suisse (CSGN.S) Chairman Axel Lehmann said in a TV interview with Bloomberg on Friday the embattled bank's outflows have basically stopped and that it is seeing partial inflows.

Credit Suisse has reported sharp outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a string of scandals by focusing more on its flagship wealth management franchise and pruning back investment banking.

Credit Suisse, whose shares have plunged this year to record lows, is in the midst of raising 4 billion Swiss francs ($4.23 billion) to bolster its finances.

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Source reuters.com

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