Credit Suisse chief executive Thomas Gottstein said a report that the bank could be taken over by State Street was "really stupid" and that the lender can repair itself.

The CEO is under pressure from investors to show that the bank has a credible strategy after a spate of scandals and financial losses. On 8 June, Credit Suisse warned it is likely to report its third consecutive quarterly loss because of a sharp fall in investment-banking deals such as companies raising new stock and bonds. It said it would speed up cost-cutting plans.