Finance

SVB collapse: Credit Suisse shares soar following two-day decline

By Rachel Schilke
Published March 16, 2023 1:13pm ET
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SVB collapse: Credit Suisse shares soar following two-day decline
FILE - In this April 3, 2012 file picture the logo of Swiss bank Credit Suisse is photographed at a building in Zurich. Credit Suisse Group says it is raising 8.7 billion Swiss francs (US $8.9 billion) to bolster its capital reserves. The Swiss bank says 3.8 billion francs come from the placement of so-called contingent convertible bonds underwritten by investors from Qatar, Saudi Arabia and Singapore. The Zurich-based bank's announced WednesdayJuly 18, 2012 that its second-quarter earnings attributable to shareholders increased 2.6 percent to 788 million francs. (AP Photo/Keystone/Alessandro Della Bella,File) | Alessandro Della Bella

Credit Suisse shares soared on Thursday following its announcement that it would borrow over $50 billion from the Swiss National Bank.

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