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Shares in the iconic Swiss investment bank, Credit Suisse, fell to all-time lows today after reports emerged that the bank may be looking to raise capital to shore up its financial position. The capital raise could come in the form of share sales. The bank has faced numerous scandals and challenges in the past few years, most of which were self-inflicted. Shares in the company were down 12% in the midday trading session.

On a year-to-date basis, shares in the company are now down over 50%, which could also make the idea of selling stock at these depressed levels seem less desirable to the company’s management and board of directors. Reuters reported yesterday that the bank had been reaching out to certain large institutional investors to raise fresh capital. The news agency also reported that the bank may be looking to exit its U.S. investment banking business.

Credit Suisse subsequently released a statement denying that the bank was looking to exit the U.S. market but did not comment on the capital raising aspect of Reuter’s story. The bank’s board and executive team is in the midst of reassessing its cost structure, market position, expertise and strategic direction. Rumors have been circulating for a while that the bank may pursue large job cuts and reduce compensation for some of its start traders and bankers.

Scandals including the failure of Greensill Capital and Archegos Capital have rocked the investment bank and tarnished its reputation. Greensill may have costed the bank over $2 billion in total losses which may take years to untangle due to court proceedings. Archegos, meanwhile, the family-office hedge fund which took levered bets on Chinese equities, handed the Swiss bank an even bigger humiliating loss of $5.5 billion last year.

The company has also experienced numerous management changes recently, with new Chief Executive Officer Ulrich Korner having been in the job for less than three months. He was hired to take a critical look at the bank’s underlying business operations and propose a radical shake-up. Prior to that, the Chairman of the bank was also replaced in April of last year. The bank’s troubles have also stemmed from other failures in its risk management department. Credit Suisse has recently tried to shift its business towards wealth management and away from brokerage and trading.

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