Market reassured by lifeline from central bank as CEO vows to continue with ‘strategic transformation’
ZURICH: Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender’s future.
Switzerland’s second-biggest lender suffered its worst-ever day on the stock exchange Wednesday as market fears over the risk of another global banking crisis swirled, after US tech industry lenders Silicon Valley Bank and Signature Bank imploded.
Share prices plunged more than…