June 28, 2019 / 11:15 AM / 3 months ago

Credit Suisse says payout unaffected by U.S. stress test result

FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch in Winterthur, Switzerland November 2, 2017. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - Results of a U.S. stress test will not affect Credit Suisse Group’s (CSGN.S) payout to shareholders, a spokesman for the Swiss bank said on Friday.

The U.S. Federal Reserve placed conditions on Credit Suisse’s U.S. operations after finding weaknesses in its capital planning processes. Credit Suisse had acknowledged the concerns relayed by the Fed and said on Thursday it expected to remediate the issues by the October deadline.

Reporting by Oliver Hirt, Editing by Michael Shields

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