[Published: Wednesday November 07 2018]
 Credit Suisse pulls out of South Africa
JOHANNESBURG 7 Nov (ANA) - Swiss bank Credit Suisse (CSGN.S) has pulled out of South Africa after more than a decade as part of the bank's revamp, it has been reported.
Switzerland’s second largest bank is in the final stages of a three-year drive to focus on managing the money of wealthy investors and scale back investment banking.
“They are gone. It’s a total withdrawal wrapped up some weeks back,” one of the sources said.
In 2013 Credit Suisse, which declined to comment, told customers in nearly 50 markets, including Congo and Angola, that it would end cross-border wealth management business with them.
Credit Suisse’s website says it has office in approximately 50 countries and lists Johannesburg as its only sub-Saharan African location.(ANA)
FA/ANA/7 November 2018--------
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