Credit Suisse Shares Drop After SEC Query Delays Annual Report

Credit Suisse Group AG shares dropped close to a record low after the Swiss bank said it was delaying publication of its annual report following a last-minute query by US regulators over previous financial statements.

The shares fell as much as 6.4% to 2.504 Swiss francs ($2.672) in Zurich, with the bank’s market capitalization edging close to the $10 billion mark. Credit Suisse has lost about 9% of its value so far this year.

The Zurich-based lender was due to publish the reports on Thursday morning but received a late call from the Securities and Exchange Commission on Wednesday evening. ...