SEC raised questions about bank39;s earlier financial statements
SEC questions concern consolidated cash flow statements, related controls
Bank says 2022 financial results 39;not impacted39;
Analyst describes bank as 39;major construction site39;

ZURICH, March 9 Reuters Credit Suisse has postponed publication of its annual report after a lastminute call from the United States Securities and Exchange Commission SEC, which raised questions about its earlier financial statements.

The unusual intervention by the U.S regulator is the latest blow for Credit Suisse as the lender reels from a series of scandals and setbacks that have sent its share price plunging and led clients to withdraw billions.

Credit Suisse shares were down around 6 and close to their alltime low in early afternoon trading in Zurich on Thursday.

The bank said the SEC had called it late on Wednesday regarding certain open SEC comments about the technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls.

The bank had revised how it booked a series of cash flows, including sharebased compensation and foreign exchange hedges.

Credit Suisse said that following the call it decided to postpone publication of the annual report.

Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received, it said, adding that…