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Credit Suisse to delay its 2022 annual report after a ‘late call’ from the SEC

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Workers pass a Credit Suisse Group AG bank branch in Geneva, Switzerland, on Thursday, Sept. 1, 2022.

Jose Cendon | Bloomberg | Getty Images

Credit Suisse on Thursday announced that it will delay the publication of its 2022 annual report after a late call from the U.S. Securities and Exchange Commission on Wednesday night.

In a statement, the embattled Swiss lender said the conversation related to SEC comments about the “technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls.”

“Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received. We confirm the 2022 financial results as previously released on February 9, 2023, are not impacted by the above,” the bank said.

This is a developing story and will be updated shortly.

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