Qatar Investment Authority raises stake in Credit Suisse to just under 7%

The logo of Swiss bank Credit Suisse is seen in front of a branch office in Bern, Switzerland November 29, 2022. REUTERS/Arnd Wiegmannto just under 7%, becoming the Swiss bank's second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance.

The new shares bring the QIA's ownership in Credit Suisse to 6.87%, amounting to 272.25 million shares, from 5.57% as reported in its last SEC filing in November. The announcement followed a difficult few weeks when the one-time respected Swiss institution had even become a 'meme stock' at the centre of a social media storm.

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