Credit Suisse Group on 20 February denied allegations made in media reports at the weekend that the bank managed accounts of clients involved in criminal activities.

"Credit Suisse strongly rejects the allegations and insinuations about the bank's purported business practices," the Swiss bank said in a statement. "The matters presented are predominantly historical, in some cases dating back as far as the 1940s, and the accounts of these matters are based on partial, inaccurate, or selective information taken out of context," Credit Suisse.