Shares in Credit Suisse plunged on Monday as fears mount over the financial health of the Swiss bank.
Its shares fell by about 10% after the bank’s boss failed to reassure investors.
Last week, chief executive Ulrich Koerner insisted in a memo to staff that Credit Suisse’s financial position was solid.
It comes ahead of a restructuring plan due when the bank reports results at the end of October.
Sources close to the bank confirmed a report in the Financial Times that executives at the Swiss bank spent much of the weekend seeking to calm key stakeholders about its financial strength.
A Credit Suisse spokesperson refused to comment.
“We are in the process of reshaping Credit Suisse for a long-term, sustainable future – with significant potential for value creation.
“I am confident we have what it takes to succeed.”
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