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Credit Suisse CEO says bank has a strong balance sheet: FT

ZURICH (Reuters) – Credit Suisse Chief Executive Tidjane Thiam told the Financial Times the Swiss bank’s capital position has never been better.

“What I can say is that we have a strong balance sheet,” Thiam said in an interview published on the FT’s website on Wednesday following several days of sharp drops in its share price. Thiam added that the bank’s current common equity tier 1 capital ratio of 11.4 percent was the strongest Credit Suisse has ever had.

“We have no liquidity issues,” Thiam was quoted as saying.

Last week, Credit Suisse reported its first full-year loss since 2008 after booking a big impairment charge at its investment banking business, sending its share price tumbling and piling pressure on Thiam.

“We need to continue to implement our strategy with discipline and clarify where there are misunderstandings,” Thiam told the FT.

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