Quantcast
Credit Suisse plans next payout to Greensill fund investors – Metro US

Credit Suisse plans next payout to Greensill fund investors

FILE PHOTO: The logo of Swiss bank Credit Suisse is
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Zurich

ZURICH (Reuters) – Credit Suisse plans a sixth payout in December to investors in frozen supply chain finance funds linked to Greensill, the Swiss bank said on Thursday, adding it had recovered around $7.1 billion by the end of November.

In March, Credit Suisse had to suspend $10 billion in funds linked to Greensill and has been paying back the money it recoups in stages.

In an update published on Thursday, it said it was accruing around $145 million in estimated recovery costs for the year 2021.

(Reporting by Oliver Hirt, Writing by Michael Shields)

More from our Sister Sites