Credit Suisse announces capital increases in new strategy

October 21, 2015 4:50 AM

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ZURICH Oct 21 Swiss bank Credit Suisse on Wednesday announced plans for two capital increases to raise just over 6 billion Swiss francs ($6.28 billion), as well as a raft of changes to its top management and a partial flotation of its Swiss universal bank.

"Today, we are also taking decisive action to strengthen our balance sheet and capital position to the point where it will not be any more a source of concern for our clients, our investors or our regulators," Chief Executive Tidjane Thiam said in a statement.

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