Fear of Credit Suisse going under has gripped the Swiss capital market after its majority shareholder, Saudi National Bank (SNB), said it could no longer provide funds for the Swiss lender.
Saudi National Bank, which bought 9.9 per cent stake in Credit Suisse last year, revealed that it could no longer provide capital whenever the lender was in need of a financial bailout.
In 2022, Saudi National Bank participated in a $4.2 billion fundraising run by Credit Suisse, pledging an investment value of $1.5 billion (1.5 billion Swiss francs).
