Credit Suisse announces $1 billion '2020 share repurchase' program



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Credit Suisse announces $1 billion '2020 share repurchase' program

Credit Suisse, the Zurich-based Swiss multinational investment banking company, employing more than 45,000 people across the globe as of December 31st, 2018, had issued a public statement on Friday, the 3rd of January 2020, saying that the Zurich-based lender and financial services company had been sketching out a plan to repurchase as little as $1.03 billion or 1 billion Swiss Franc worth of shares by the end of 2020.

Nonetheless, the 164-year-old Swiss lender with an annual revenue of 21.79 billion Swiss Franc as of December 31st, 2018, had also added in its Friday’s (January 3rd) filing that its share buyback program for 2020 would be subject to global economic and market conditions.

In point of fact, latest announcement from the Zurich-based multinational lender comes over the heels of an earlier statement issued this week saying the lender had completed its $1 billion worth of share repurchase program, which was scheduled to be concluded by end-2019, however, investors appeared to be less interested on Credit Suisse’s Friday’s (January 3rd) filing, as following reveal of its Friday’s (January 3rd) statement, the Swiss Stock exchange-listed shares’ prices of Credit Suisse Group AG wrapped up the day 0.42 per cent higher to 13.16 Swiss Franc per share after falling as much as 1.42 per cent on midday trading to 12.94 Swiss Franc a share.