Credit Suisse Shareholders Approve CHF4 Billion Capital Increase

Credit Suisse Group AG (CS) shareholders on Thursday overwhelmingly approved a plan to sell 4 billion Swiss francs ($4.1 billion) of new shares to raise capital, allowing the banking giant to keep full control of its profitable Swiss unit.

Credit Suisse announced the capital hike on April 26, shelving its longstanding plans to partially float its Swiss banking unit through an initial public offering.

The bank previously raised 6 billion francs in 2015.

-Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

May 18, 2017 06:20 ET (10:20 GMT)