August 26, 2019 / 5:19 AM / 6 months ago

Credit Suisse to invest high three-digit million sum in Swiss unit

ZURICH, Aug 26 (Reuters) - Credit Suisse will invest hundreds of millions of francs in its Swiss division by the end of 2021, the country's second-biggest bank said on Monday, as it creates a new business area, Direct Banking, for retail and commercial clients.

The Swiss division (SUB) "remains committed to achieving its medium-term financial ambitions and it plans to invest a sum in the high three-digit million range in its client business -- especially in digitalization, in the hiring of additional employees in client advisory, and in marketing -- by the end of 2021," Credit Suisse said in a statement.

Reporting by John Miller Editing by Thomas Seythal

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