The chairman of Credit Suisse AG told shareholders Friday that the big bank's size was not a problem, as voices in Switzerland have expressed worry over the "too big to fail" issue, DPA reported.
"Banks should not be judged on their size alone... size can also increase stability," said Hans-Ulrich Doerig, arguing that recent regulations have already prevented the extent of the bank's balance sheet growth.
Doerig, addressing the annual meeting in Zurich, also voiced support for a political solution to resolve undeclared accounts, through a tax system or amnesty, but insisted "banks do not represent the long arm of tax authorities."
Credit Suisse chief defends bank's size
The chairman of Credit Suisse AG told shareholders Friday that the big bank's size was not a problem, as voices in Switzerland have expressed worry over the "too big to fail" issue.
