Credit Suisse plans next payout to Greensill fund investors

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1 min read
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Zurich

ZURICH – Credit Suisse plans a sixth payout in December to investors in frozen supply chain finance funds linked to Greensill, the Swiss bank said on Thursday, adding it had recovered around $7.1 billion by the end of November.

In March, Credit Suisse had to suspend $10 billion in funds linked to Greensill and has been paying back the money it recoups in stages.

In an update published on Thursday, it said it was accruing around $145 million in estimated recovery costs for the year 2021.

(Reporting by Oliver Hirt, Writing by Michael Shields)

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