Credit Suisse Surges as Much as 10% After Halt to Mass Outflows
- Chairman says Swiss lender is already seeing partial inflows
- Says top investors not pleased with share price declines
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Credit Suisse Group AG shares surged as much as 10% on Friday after Chairman Axel Lehmann said the bank’s liquidity was improving and the huge outflows of client assets that had spooked markets were coming to an end.
Withdrawals at the Swiss lender, which surged to about 84 billion francs ($90 billion) earlier this quarter after rumors about the bank’s stability, have “basically stopped,” Lehmann said in a Bloomberg Television interview with Francine Lacqua. The bulk of the bleeding occurred in October, and the bank has since seen some assets come back in Switzerland.