World News

Credit Suisse announces $1 billion 2020 share buyback program

ZURICH (Reuters) – Credit Suisse <CSGN.S> said on Friday it expects to buy back at least 1 billion Swiss francs ($1.03 billion) worth of shares until the end of 2020, subject to market and economic conditions, after completing a similar program last year.

In 2019, Credit Suisse repurchased nearly 80 million shares on a second trading line on SIX Swiss Exchange for a total of just over 1 billion francs at an average purchase price per share of 12.53 francs.

(Reporting by John Miller; editing by Thomas Seythal)