Credit Suisse's discounted sale a signal for all bankers: Kotak

"Credit Suisse sold to UBS for $3 billion, (a) 60% discount to stock value at Friday closing," Uday Kotak tweeted. "(About) $600-bn balance sheet sold for $3-bn equity value. (About) $17 bn of AT1 bonds written off. A signal for all bankers and stakeholders - when risk-return matrix is overtaken by obsession with size."

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/35sHG9A
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