On Thursday, Credit Suisse announced it would be delaying the publication of its annual report following questions raised by the United States Securities and Exchange Commission (SEC) over an earlier revision of its cash flow statements in 2020 and 2019.

Credit Suisse Group revealed the SEC had contacted the bank late on Wednesday to discuss, “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.”

In a statement, Credit Suisse said, “We confirm the 2022 financial results as previously released on February 9, 2023, are not impacted by the above.”

2022 had proven a tough year for Switzerland’s second biggest bank. In February, the bank revealed that 2022 had seen the biggest annual loss for the group since the 2008 global financial crisis. Throughout 2022, rattled investors began generating billions in outflows, and the bank warned that there would be a further, “substantial” loss this year.

Credit Suisse Group began a major overhaul of its operations as a result. In an attempt to revive its fortunes, it has been cutting costs and laying off jobs, as well as creating a separate business for its investment bank, under the brand of CS Frist Boston.

In December the bank raised an additional 4 billion Swiss francs from investors.