Credit Suisse credit exposure to Russia 848 mln Sfr - annual report
10/03/2022 05:48
ZURICH, March 10 (Reuters) - Credit Suisse CSGN.S had net
credit exposure to Russia totalling 848 million Swiss francs
($914 million) and 195 million of net assets held in Russian
subsidiaries, the Swiss bank's 2021 annual report showed on
Thursday.
"In purely financial terms, we have reviewed our positions
and believe that the bank’s exposure in relation to Russia is
well-managed, with appropriate systems in place to address
associated risks," the bank said in a statement.
Italy's UniCredit and France's BNP Paribas were the latest
banks to set out their Russian exposures, warning of billions of
euros in potential costs from the financial fallout from
Moscow's invasion of Ukraine. urn:newsml:reuters.com:*:nL2N2VC11F
Rival UBS's UBSG.S direct exposure to Russia made up $634
million of the Swiss bank's total emerging market exposure of
$20.9 billion at the end of 2021, the bank said in its annual
report on Monday. urn:newsml:reuters.com:*:nL2N2VA0HW
($1 = 0.9278 Swiss francs)
(Reporting by Michael Shields and Emma Thomasson)
((Michael.Shields@thomsonreuters.com; +41 41 528 3630; Reuters
Messaging: michael.shields.thomsonreuters.com@reuters.net))