The move is directed towards obtaining additional funds. Credit: Nature_Design from Pixabay.

Credit Suisse Group is in discussions with Royal Bank of Canada (RBC) and Morgan Stanley to boost its capital amid plans to overhaul its troubled business, Bloomberg has reported citing people privy to the development.

The move is directed towards obtaining funds in case the Swiss bank requires additional money to support its planned restructuring.

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It could see Credit Suisse divesting parts of its operations, including portions of investment bank and asset management business in the US.

According to the sources, the bank might seek to boost its capital via a potential share sale as part of an initiative called Project Ghana once it reveals its turnaround plan next week on 27 October.

Credit Suisse could look for at least $2bn to support its overhauling plan and to make up for any possible operating losses in the next few years.

Representatives for RBC, Morgan Stanley and Credit Suisse refused to offer any comments.

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Credit Suisse is currently struggling hard to recuperate from a set of setbacks such as losing over $5bn from the failure of investment firm Archegos last year and the suspension of client funds associated with collapsed firm Greensill.

The bank has also commenced negations with Qatar Investment Authority and other entities to attract funding for its businesses, Bloomberg stated in a previous report.

Different Middle Eastern sovereign wealth funds, including Abu Dhabi’s Mubadala Investment and Saudi Arabia’s Public Investment fund, could inject money in the bank’s investment banking unit or other divisions, added the publication.