Credit Suisse Group AG said on Thursday it will delay the release of its 2022 report after a late call from US market regulators on 2019 and 2020 cash flow statements, adding to the headache. added as the lender tries to lure customers in the midst of a costly recovery effort. .
The Swiss bank CSGN,
CS,
said it received a call from the US Securities and Exchange Commission on Wednesday regarding certain open comments from the SEC on the technical evaluation of previously disclosed revisions to its consolidated statements of cash flows in fiscal 2020 and 2019, as well as related controls.
“Management believes it is prudent to briefly delay the release of their accounts to better understand the feedback received,” Credit Suisse said.
The company said it would not affect its 2022 financial results published in early February.
Credit Suisse’s share price hit a low in the weeks after the 2022 results on uncertainty about its future, and analysts fear recent large client exits will hamper the recovery.
Write to Ed Frankl at edward.frankl@wsj.com