Market Review and Trends
Credit Suisse Crisis
By My Sweet Retirement  •  March 19, 2023
Following the collapse of Silicon Valley Bank, the Credit Suisse crisis plagued the banking industry. On 15th March 2023, the shares of Credit Suisse slumped when the chairman of the bank’s largest shareholder, Saudi National Bank ruled out investing further more into Credit Suisse. As you can see below, the share price dipped from 2.28 CHF to 1.56 CHF. Immediately, Swiss National Bank threw in a $54 billion loan to Credit Suisse after the slump sparked fears of a global banking crisis. The share price recovered when the lifeline was thrown in. According to what I have read from Reuters and Forbes, the sell off of Credit Suisse shares were nothing new. It began in 2021 after the collapse of investment fund Archegos and Greensill Capital. In 2022, the chairman of Credit Suisse, Antonio Horta-Osorio resigned over COVID-19 breaches. Ulrich Koerner, took over as the new CEO. At this point of writing, the Swiss cabinet has gathered to...
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.

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