Credit Suisse stopped pursuing new business in Russia after the invasion of Ukraine on Feb. 24, the Swiss bank said on Monday in an internal document seen by Reuters.
According to the document, Credit Suisse has been striving to reduce its business contacts with Russia, helping clients limit their own exposure to the country and transferring employees to other locations.
It confirmed roughly 4% of assets under management in its wealth management unit belonged to Russian clients.
Meanwhile, U.S. lawmakers have launched a probe into Credit Suisse's compliance with sanctions related to Russia's invasion of Ukraine and have asked the Swiss bank to hand over any information related to it, according to a Wall Street Journal report on Monday.
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