Initially, the Swiss lender had acquired a 25% stake in Aberdeen Asset Management, following the completion of Aberdeen’s acquisition of various Credit Suisse asset management businesses in June 2009.
The move is part of Credit Suisse’s efforts to substantially increase its capital to meet the minimum capital base as prescribed by the banking regulators.
The Swiss National Bank had recently made known to the lender to supplement its capital this year, which recently suffered a Moody’s downgrade of its long-term debt rating.
Pressure on earnings from weaker client activity has made it difficult for the bank to accrue capital and prepare for stricter regulatory requirements.
