Credit Suisse is trying to raise more than $1 billion after a string of scandals and executive departure

– Credit Suisse is raising more than $1 billion in capital, Reuters reported.

Credit Suisse is seeking to raise more than $1 billion after a year of heavy financial losses 

– The bank has suffered a string of scandals and high executive turnover during the past few years.

Credit Suisse plans on completing this deal in the second half of 2022, Reuters reported. 

– This new capital raise comes a year after Credit Suisse raised more than $ 2 billion.

The embattled bank, the second largest in Switzerland, sees multiple options, Reuters said 

Credit Suisse told Reuters in a statement that it was “currently not considering raising additional equity capital”  

and that it was “strongly capitalized.” The bank also stated its asset management division is “an important part of the group’s strategy.” 

Credit Suisse was not immediately available for comment on Monday afternoon. 

News of this capital increase came a year after Credit Suisse reportedly collected $ 2 billion. 

And it came at a critical time for the company when trying to reduce losses from 2021 

that is $ 600 million in damages from a Bermuda court case.