Credit Suisse will not take a significant hit from its exposure to the battered oil and gas sector, Chairman Urs Rohner told Swiss state broadcaster SRF on Saturday.
Global oil prices have plunged since March as coronavirus lockdowns have eroded demand and oil producing nations have waged a price war.Credit Suisse, which in recent years has sought banking relationships with oil and gas entrepreneurs, may have somewhat more exposure to the sector than rivals, Rohner acknowledged, but he did not expect the turmoil to drag down the Zurich-based bank's results.
Rohner also defended the bank's decision not to jettison ex-chief executive Tidjane Thiam sooner following a spying scandal that emerged last year. Thiam finally left the bank in February.
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