Credit Suisse is seeking options to fortify its capital base after a series of losses exhausted its financial buffers, reported Reuters citing two people with knowledge of the matter.

While has not been fixed yet, the size of the increase is expected to go over $1.04 bn (CHF1bn), according to one of the sources.

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The capital infusion would help the Swiss investment bank to recover from billions of losses last year and a number of costly legal troubles.

The source, whose identity was not disclosed, told the news agency that Credit Suisse may consider selling shares to some of its prominent backers.

While it is said to be the preferred option, the bank has not ruled out tapping all shareholders, the person added.

The sale of a business, such as the bank’s asset management division, is also a possibility, another source divulged.

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The sources added that the bank had not yet decided on any potential action. Any transaction was envisaged for the second half of this year.

Meanwhile, Credit Suisse told Reuters in a statement that it is not currently considering raising additional equity capital.

The bank said: “The Group is robustly capitalised with a CET1 ratio of 13.8% and a CET1 leverage ratio of 4.3%. Asset Management is an essential part of our group strategy presented last November, with four core divisions.”

Recently, Credit Suisse revealed that it froze around $10.63bn of client assets in Q1 2022 after Russia was hit by sanctions by the US and its allies over its military attack on Ukraine.