Loan Digest

Saudi National Bank was denied taking 40% Credit Suisse stake, Blick reports

  • 📰 Reuters
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported on Sunday.

agreed to buy Credit Suisse for a knockdown price of three billion Swiss francs on March 19 in a rescue orchestrated by Swiss authorities.

FINMA must give its approval for a foreign investor to take a stake of more than 10% in a major Swiss bank. It was not clear why FINMA opposed the move that would have involved Saudi National Bank, which was already the biggest shareholder in Credit Suisse, pumping $5 billion into the bank, Swiss newspaper Blick reported, without identifying its sources.were not immediately available for comment.of Credit Suisse last month, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet and overseeing more than $5 trillion in assets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Swiss National Bank's Schlegel not deterred by recent inflation dip - newspaperThe Swiss National Bank remains open to further interest rate hikes despite last month's dip in inflation, Vice Chairman Martin Schlegel said in an interview published on Saturday.
Source: Reuters - 🏆 2. / 97 Read more »