Credit Suisse finds 'material weaknesses' in financial reporting, says outflows 'not yet reversed'
The logo of Credit Suisse Group in Davos, Switzerland, on Monday, Jan. 16, 2023. Bloomberg | Bloomberg | Getty Images Credit Suisse on Tuesday said its net asset outflows had declined but "not yet reversed" and announced that "material weaknesses" were identified in its financial reporting processes for 2022 and 2021. The embattled Swiss lender published the annual report scheduled for last Thursday, which was delayed by a late call from the U.S. Securities and Exchange Commission (SEC). related investing news Citi says Europe's banks are unlikely to face SVB-like issues and names 3 top picks Ganesh Rao 3 hours ago Wall Street is surprised by First Republic's falling stock. Here's how the bank compares with SVB Jesse Pound 13 hours ago This one chart shows the uniqueness of Silicon Valley Bank and how it set itself up to fail Jesse Pound 2 days ago That conversation related to a "technical assessment of previously disclosed revisions to the conso...