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Greek fintech firm Qualco Group is exploring an initial public offering (IPO) to enhance its operations in Europe and the Middle East, with the Athens Stock Exchange as a potential listing venue. Currently, discussions are in the early stages, and no decisions have been finalized regarding the IPO's size or timeline. Qualco specializes in credit management, serving clients in over 30 countries, including major institutions like BNP Paribas and Banco Santander.
A parliamentary investigation has concluded that Credit Suisse is responsible for its collapse in spring 2023, citing significant financial losses of 33.7 billion francs over twelve years while paying out 39.8 billion francs in bonuses. The report criticized the Financial Market Authority for ineffective supervision and called for clearer regulations for systemically important banks. Following its difficulties, Credit Suisse was sold to UBS in an emergency sale, averting fears of a global financial crisis.
Credit Suisse reported losses of CHF 33.7 billion over twelve years while paying out CHF 39.8 billion in performance bonuses, leading to scrutiny of supervisory authorities. The parliamentary committee found that the Financial Market Authority's oversight was ineffective, particularly in relaxing capital requirements. Following a crisis, Credit Suisse was sold to UBS in March 2023, averting fears of a global financial crisis.
The Swiss parliamentary committee has concluded that Credit Suisse is solely responsible for its dramatic collapse in spring 2023, citing 33.7 billion Swiss francs in losses over twelve years while paying out 39.8 billion in bonuses. Although the Financial Market Authority's supervision was deemed ineffective, no misconduct by authorities was found. The bank was sold to UBS in an emergency sale amid fears of a global financial crisis, following significant losses and failed attempts to stabilize its finances.
The Swiss parliamentary committee has concluded that Credit Suisse is primarily responsible for its dramatic collapse in spring 2023, citing a staggering 33.7 billion francs in losses while paying out 39.8 billion francs in performance bonuses over twelve years. While the Financial Market Authority's supervision was deemed ineffective, the committee found no direct misconduct by the authorities. The emergency sale of Credit Suisse to UBS, prompted by fears of a global financial crisis, ultimately averted wider financial turmoil.
A parliamentary investigation has concluded that Credit Suisse is responsible for its dramatic collapse in spring 2023, citing 33.7 billion Swiss francs in losses over twelve years while paying out 39.8 billion in bonuses. The report criticized the Financial Market Authority for ineffective supervision and insufficient capital requirements. Following its struggles, Credit Suisse was sold to UBS in an emergency sale amid fears of a global financial crisis.
The Swiss parliamentary committee has concluded that Credit Suisse is solely responsible for its dramatic collapse in spring 2023, citing significant financial mismanagement, including losses of 33.7 billion Swiss francs while paying out 39.8 billion in bonuses. While the Financial Market Authority (FINMA) was criticized for ineffective supervision and lax capital requirements, the committee found no misconduct on the part of the authorities. The bank was sold to UBS in an emergency sale amid fears of a global financial crisis, following substantial losses and failed recovery efforts despite external support.
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05:20 20.03.2025
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The Saudi National Bank
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USA
CHE
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11:47 20.12.2024
credit suisse collapse attributed to internal failures and regulatory shortcomings
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The Saudi National Bank
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USA
CHE
SAU
Isabelle Chassot
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11:46 20.12.2024
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