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Credit Suisse on track to achieve end-2018 cost target -chairman
May 18, 2017 / 8:58 AM / 6 months ago

Credit Suisse on track to achieve end-2018 cost target -chairman

ZURICH, May 18 (Reuters) - Credit Suisse is on track to hit its targeted cost base by end-2018, Chairman Urs Rohner said on Thursday, part of a broad restructure of Switzerland’s second-biggest bank.

“Accordingly, we are well on track to achieve a cost target of 17 billion Swiss francs ($17.4 billion) by the end of 2018, which is significantly lower than our original cost target of 18.5 billion Swiss francs,” Rohner said in a speech at Credit Suisse’s extraordinary general meeting.

Credit Suisse shareholders are voting the board’s proposal to raise around 4 billion francs to get its financial strength on a par with rivals.

$1 = 0.9789 Swiss francs Reporting by Joshua Franklin and Oliver Hirt

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