Jean-Luc Boujon (in Geneva) with AFP 10:00 am, March 16, 2023

On Wednesday, Credit Suisse's shares suffered the worst session in their history after a panic following the statements of its largest shareholder, the Saudi National Bank. The stock had hit an all-time low of CHF 1.55. A veritable institution within the Swiss Confederation, customers are divided on the possible bankruptcy of the bank.

This is a new source of concern in the banking sector. After the bankruptcy of the Silicon Valley Bank (SVB) in the United States earlier this week, it is a European bank based in Switzerland that is showing signs of concern. Credit Suisse saw its share price fall sharply on Wednesday, after the worrying statements of its main shareholder, the National Bank of Saudi Arabia. At the same time, leading to the fall in the share price of the French banks BNP Paribas and Société Générale.

"There's no need to worry"

Credit Suisse is a veritable institution within the Swiss Confederation, the country's second largest bank. At 18 p.m., Credit Suisse employees leave the bank's Geneva headquarters. "I won't talk to you. I don't have the right. But don't worry, everything is fine, we're happy...", smiles an employee.

Many customers of the country's second-largest bank agree, "there's no need to worry." "I don't think they need to be saved... Credit Suisse is stronger now than it was in 2008. Like all banks, they are stronger, they have more capital," the client said. "I remain confident because it's a Swiss bank, it's also a big bank. And I think the state will help her...", continues this client.

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"I think they're going to go bankrupt"

But other clients disagree, such as Fadi, a doctor who has already taken precautions. "I'm withdrawing all my money because I think they're going to go bankrupt. We have very bad feedback. I have several hundred thousand Swiss francs here. But I will transfer everything to UBS. We are careful. Frankly, Credit Suisse, at the moment, I'm not very comfortable," he told Europe 1.

Ashkan, who works for a private bank next door, is no more serene. "We laugh but it's a nervous laugh. Even if it's not our bank, we're in shock and to be honest, a little tense...", he confides. A banker who confirms the degraded image of Credit Suisse, shaken by scandals and which has been facing massive withdrawals since the end of 2022: more than 100 billion Swiss francs have been withdrawn by its clients.

Investors sent Credit Suisse's share price soaring after the central bank threw the central bank to reassure global markets of more than CHF 50 billion. On Thursday, at the opening of the session, the title Credit Suisse jumped more than 30% in a strong volume of trade.