Saudi National Bank loses over $1 billion on Credit Suisse investment
Saudi National Bank strategy unaffected by hit to Credit Suisse investment
Saudi National Bank 1180.SE, the largest shareholder in Credit Suisse , said on Monday its strategy will be unaffected by reduced valuation on its investment in the Swiss bank after its takeover by rival UBS .
Saudi National Bank says its Credit Suisse investment has ‘no impact’ on growth plans or profits
Mon, 2023-03-20 12:46 RIYADH: Credit Suisse's largest shareholder Saudi National Bank has confirmed there is “no impact” on its growth plans or profitability after the troubled Swiss lender was bought out by UBS. The SNB made a SR5.5 billion ($1.4 billion) investment in the bank in November 2022, but as of a month later it only represented 0.5 percent of the Saudi firm’s total assets and approximately 1.7 percent of its investments portfolio.…
Credit Suisse Turmoil Puts Gulf Investors Among Top Losers
Credit Suisse Group AG’s Middle Eastern shareholders, which together own about a fifth of the Swiss bank, are among some of the biggest losers in the turmoil that culminated with UBS Group AG agreeing to acquire the troubled lender at a steep discount.