Credit Suisse chairman's outflow comments probed - report

Credit Suisse slumped on Tuesday following a report the Swiss financial regulator is reviewing remarks made by the bank’s chairman Axel Lehmann about outflows from the lender having stabilised in early December.

Reuters cited two people with knowledge of the matter as saying that Finma is seeking to establish the extent to which Lehmann, and other Credit Suisse representatives, were aware that clients were still withdrawing funds when he said in media interviews that outflows had stopped.

Lehmann told the Financial Times in an interview streamed online on 1 December that after strong outflows in October, they had "completely flattened out" and "partially reversed".

Sources told Reuters the regulator is reviewing whether Lehmann's statements were potentially misleading.

A spokesperson for Credit Suisse told Reuters the bank does "not comment on speculation”.

At 1250 GMT, the shares were down 6.3% at CHF2.60.