customers divided over difficulties at Credit Suisse bank

This is a new source of concern in the banking sector. After the bankruptcy of the Silicon Valley Bank (SVB) in the United States at the beginning of the week, it is a European bank based in Switzerland which is showing signs of concern. Credit Suisse saw its share price drop sharply on Wednesday after worrying statements from its main shareholder, the National Bank of Saudi Arabia. Entraining by the same, the fall of the action of the French banks BNP Paribas and Societe Generale.

“It’s not worth worrying about”

Credit Suisse is a real institution within the Swiss Confederation, the second largest bank in the country. At 6 p.m., Crédit Suisse employees leave the bank’s Geneva headquarters. “I won’t talk to you. I don’t have the right. But don’t worry, everything is fine, we’re happy…”, smiles an employee.

Many customers of the country’s second-largest bank agree, “it’s not worth worrying about”. “I don’t think they need to be saved… Credit Suisse is stronger now than in 2008. Like all banks, they are stronger, they have more capital,” said this client. “Me, I remain confident because it’s a Swiss bank, it’s still also a big bank. And I think the state will help it…”, continues this client.

“I think they will go bankrupt”

But other customers are not of this opinion, like Fadi, a doctor who has already taken his precautions. “I am withdrawing all my money because I think they are going to go bankrupt. We have very bad feedback. I have several hundred thousand Swiss francs here. But I will transfer everything to UBS. We are careful. Frankly, Credit Suisse, at the moment, I’m not very comfortable”, he explains at the microphone of Europe 1.

Ashkan, who works for a private bank next door, is no more serene. “We laugh but it’s a nervous laugh. Even if it’s not our bank, we are in shock and to be honest, a little tense…”, he confides. A banker who confirms the degraded image of Credit Suisse, shaken by scandals and who has had to deal with massive withdrawals since the end of 2022: more than 100 billion Swiss francs have been withdrawn by his clients.

Investors sent Credit Suisse’s share price skyrocketing after the more than 50 billion franc lifeline the central bank threw at the banking giant to reassure global markets. Thursday, at the opening of the session, the title Credit Suisse jumped more than 30% in a strong volume of exchanges.