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Shareholder Harris says Credit Suisse doesn't need equity rise

Reuters
·1-min read
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen Zurich

LONDON (Reuters) - Major Credit Suisse shareholder Harris Associates sees no need for the Swiss bank to raise fresh equity capital, it said on Tuesday after Reuters reported the bank was weighing options to shore up its balance sheet.

"Given the strength of their balance sheet today, we agree with the company's statement that no new equity raise is necessary," David Herro of Harris Associates told Reuters.

Harris Associates holds a stake of around 5.2%, according to the bank's https://www.credit-suisse.com/about-us/en/investor-relations/shareholders/significant-shareholders.html website, making it the biggest shareholder.

(Reporting by Simon Jessop, Writing by Michael Shields, editing by Silke Koltrowitz)