Credit Suisse Stock Rebounds After a 10% Loss during the Monday trading Session

credit suisse
credit suisse

Shares of Credit Suisse rebounded, ending the Monday trading session down around 1% after a big market rally.

The shares had fallen as much as 10% at the start of trading after the Financial Times reported the Swiss bank’s executives are in talks with its major investors to reassure them amid rising concerns over the lender’s financial health.

In a statement to CNBC on Monday, the bank said it will provide updates on its strategy review when it releases its third-quarter results, scheduled for Oct. 27.

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“It would be premature to comment on any potential outcomes before then,” it said.

The stock is down about 60% year to date.

“I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank,” the CEO said in a separate staff memo obtained by CNBC.

The FT said the executive denied reports that the Swiss lender had formally discussed with investors the possibility of raising more capital, and insisted Credit Suisse “was trying to avoid such a move with its share price at record lows and higher borrowing costs due to rating downgrades.”