Credit Suisse sells its historic building in Geneva for $215m

Credit Suisse banking group sells its historic building in Geneva for $215m

One of Switzerland’s largest banking groups, Credit Suisse, has sold its historic building in Geneva for $215 million, the Swiss Real Estate Journal reported.

“Credit Suisse’s building on the corner of rue du Rhône/Place de la Monnaie in Geneva has found a buyer for more than 200 million francs ($215 million – ed.),” it said.

The newspaper specifies that the buyer is the Turidomus investment fund.

“Credit Suisse will remain a long-term tenant of the building,” the paper adds.

Credit Suisse had earlier published a restructuring strategy that calls for a 15% cut in costs and the dismissal of nearly 9,000 employees by 2025, or about 17% of the workforce.
According to the statements of the bank, published earlier, the net loss in the third quarter of 2022 exceeded 4 billion dollars, while revenues decreased by 30% year on year to about 3.9 billion dollars.

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