<p>Nestle will examine its banking relationships following the planned takeover of Credit Suisse by UBS, the food group's Chief Executive Mark Schneider said on Tuesday.</p>.<p>The world's largest food group was a client of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown on Tuesday evening, and had been following the collapse of Switzerland's second-biggest bank.</p>.<p>"We have worked closely with Credit Suisse for many decades in a spirit of trust," Schneider told the broadcaster.</p>.<p>"You can see from such an example that Switzerland as a business location and a financial centre are very closely linked. We now have to see how to reorganise our banking relationships, both with Swiss and international providers."</p>.<p>Schneider said the intervention by the Swiss government, the central bank and financial market regulator to engineer a merger with UBS had stabilised the situation and restored confidence.</p>.<p>Speaking about Nestle, Schneider said the company had made a good start to 2023, although further price rises by the company were likely, Schneider said, to offset inflation of raw material costs.</p>.<p>The maker of Nescafe instant coffee and KitKat chocolate bars raised prices by 8.2% last year, but that did not fully offset the impact of increased ingredient costs on margins.</p>.<p>Price increases had so far only had a "very limited" impact on consumer spending, Schneider said.</p>.<p>"As inflation continues, and then also affects our own profitability, we will have to adjust prices," Schneider said.</p>.<p>"We will continue to do this in a responsible way, we don't want to be a price driver. We respond to inflation, we don't fuel it," he said.</p>.<p>The food maker was also working on savings to reach its goal for a full-year underlying trading operating profit margin target of between 17% and 17.5% , Schneider added.</p>
<p>Nestle will examine its banking relationships following the planned takeover of Credit Suisse by UBS, the food group's Chief Executive Mark Schneider said on Tuesday.</p>.<p>The world's largest food group was a client of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown on Tuesday evening, and had been following the collapse of Switzerland's second-biggest bank.</p>.<p>"We have worked closely with Credit Suisse for many decades in a spirit of trust," Schneider told the broadcaster.</p>.<p>"You can see from such an example that Switzerland as a business location and a financial centre are very closely linked. We now have to see how to reorganise our banking relationships, both with Swiss and international providers."</p>.<p>Schneider said the intervention by the Swiss government, the central bank and financial market regulator to engineer a merger with UBS had stabilised the situation and restored confidence.</p>.<p>Speaking about Nestle, Schneider said the company had made a good start to 2023, although further price rises by the company were likely, Schneider said, to offset inflation of raw material costs.</p>.<p>The maker of Nescafe instant coffee and KitKat chocolate bars raised prices by 8.2% last year, but that did not fully offset the impact of increased ingredient costs on margins.</p>.<p>Price increases had so far only had a "very limited" impact on consumer spending, Schneider said.</p>.<p>"As inflation continues, and then also affects our own profitability, we will have to adjust prices," Schneider said.</p>.<p>"We will continue to do this in a responsible way, we don't want to be a price driver. We respond to inflation, we don't fuel it," he said.</p>.<p>The food maker was also working on savings to reach its goal for a full-year underlying trading operating profit margin target of between 17% and 17.5% , Schneider added.</p>