Credit Suisse has delayed publication of its annual report after US watchdog the Security and Exchange Commission (SEC) raised “last-minute” questions over its earlier financial statements.

The Swiss bank told Reuters the SEC had called it late on Wednesday regarding "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, as well as related controls."

A spokesperson further shared with the news agency that management “believes it is prudent to briefly delay the publication of its accounts” so it can gain a more thorough understanding of the SEC’s remarks.

On Thursday the bank’s share price dipped by six per cent but recovered much of its losses later in the day.

The SEC’s enquiries will likely exasperate the bank anew as it works to shore up investor confidence after a number of recent setbacks and scandals, including a recent quarterly loss of $3.5 billion which prompted Credit Suisse to set in motion plans to cut 9,000 jobs worldwide by the end of 2025.

The bank reportedly also has plans to cut 10 per cent of its European investment bankers in 2023 in further response to its recent losses.

The pause on its annual report follows a series of scandals at the bank in recent years, with Antonio Horta-Osorio, the bank's former chairman, last year resigning after breaking Covid quarantine rules.

Credit Suisse was also fined £147 million by the UK's Financial Conduct Authority for the issuing of corrupt loans worth $1.3 billion.

Another scandal saw the company found guilty by a Swiss court of failing to protect against money laundering.

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