February 14, 2017 / 8:01 AM / 2 years ago

Credit Suisse still plans to list Swiss unit, open to alternatives

ZURICH (Reuters) - Credit Suisse will push ahead with plans for an initial public offering of its Swiss business but is also open to alternative options to boost its balance sheet, Chief Executive Tidjane Thiam said on Tuesday.

“The IPO has provided an effective capital backstop during a period of big restructuring in ‘16,” Thiam said in a call with analysts after the bank reported full-year earnings.

“We want to preserve this optionality given the uncertain geopolitical environment in which we currently operate. So we will continue as planned our preparations for an IPO in the second half of ‘17. That said, we will also continue to analyse the evolution of our regulatory environment which is key in this and as we always do continuously examine a broad range of options to determine if there are ways to reach a more attractive risk/reward outcome for our shareholders.”

Reporting by Joshua Franklin and Oliver Hirt; Editing by Michael Shields

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