Is Credit Suisse a prestigious bank? How good is Credit Suisse?

Credit Suisse was ranked amongst “the top global systemically prestigious banks” by the Financial Stability Board.

The investment bank known for strict banking confidentiality and secrecy of customers and its operations.

How good is Credit Suisse?

Credit Suisse is rated 3.9 out of 5, based on public review.

The company is known for its Work-Life balance, but needs improvement in the area of Career advancement.

About Credit Suisse

Credit Suisse Group AG is a global investment bank and financial services provider, established in 1856.

Its headquarters is located in Zurich, Switzerland, and has presence in all major financial centers across the globe.

Many decades ago, Credit Suisse issued loans to the government that “helped create Switzerland’s electrical grid and the European rail system”.

The bank began retail operations in the 90s, and went on to acquire institutions like Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. (SASI), and Bank Leu.

Its biggest institutional shareholders include the Qatar Investment Authority and BlackRock, Dodge & Cox, the central bank of Norway and the Saudi Arabian Olayan Group.

Credit Suisse was not known for any downturn during the global financial crisis, but later began to decline after facing queries on tax evasion, leading to a payment of US$2.6 billion in fines from 2008 to 2012, plus a damaged reputation.

The shares of the former Wall Street big player had recently crashed by over 20%, following its biggest investor’s refusal to increase its stake.

As of 2022, customers had withdrawn 123 billion Swiss francs ($133 billion) from Credit Suisse, and in the same year, it recorded a net loss of almost 7.3 billion Swiss francs ($7.9 billion).