The financial markets are waiting for information about whether and if so, how Credit Suisse is planning to raise capital. CEO Tidjane Thiam today has given an indication.

Is Swiss Universal Bank (SUB), the Swiss unit of Credit Suisse, up for partial sale? Or will Switzerland’s second-biggest bank opt for an alternative way to raise capital? The markets have been pondering these questions for months.

CS Chief Executive Tidjane Thiam will give the expected answer in due course, he told «Bloomberg» in an interview today. «We know the market wants an answer, we know the market needs an answer, we’re working diligently and we will give a very clear answer in due course. It is a complex decision, which is why we’re taking our time to make it.»

IPO – «Capital Backstop»

Credit Suisse isn’t talking to investments banks about proposals of how to raise capital, Thiam told «Bloomberg», adding that the bank was evaluating the options, having made significant progress over the past 12 months. He also said that the IPO of the Swiss unit was a «capital backstop».

Rumors that CS was considering a capital increase by as much as 3 billion Swiss francs last week circulated in the financial market and relationship managers faced the difficult task trying to explain the company’s strategic decision, finews.com reported yesterday.

CS bankers in the past months told their customers that a partial IPO of the Swiss business would help build a strong Swiss bank.