Financial news

Credit Suisse announces $1 billion 2020 share buyback program

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Via Reuters Finance

FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz square in Zurich, Switzerland October 1, 2019. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – Credit Suisse (CSGN.S) said on Friday it expects to buy back at least 1 billion Swiss francs ($1.03 billion) worth of shares until the end of 2020, subject to market and economic conditions, after completing a similar program last year.

In 2019, Credit Suisse repurchased nearly 80 million shares on a second trading line on SIX Swiss Exchange for a total of just over 1 billion francs at an average purchase price per share of 12.53 francs.

Reporting by John Miller; editing by Thomas Seythal

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