Credit Suisse Crisis: The heat of the bank crisis that started in America has now started reaching Europe. The last few days have been extremely difficult for Credit Suisse Bank Crisis, Europe’s largest bank. The process of heavy decline in the shares of the bank continues. There is another bad news for it in this difficult time. The biggest investor of the bank has refused to invest in the bank in this difficult time.
Let us tell you that Saudi National Bank has the largest stake in Credit Suisse located in Switzerland. This stake is 9.9 percent of the total. The Saudi National Bank has categorically refused to invest further in Credit Suisse.
Chairman of Saudi National Bank said this
According to Bloomberg’s report, Saudi National Bank Chairman Ammar-Al Khudairi was asked on this matter whether he would invest more in the bank if Credit Suisse tries to raise more cash. He said that further Saudi National Bank will not make any kind of investment. There are many reasons behind this, the biggest reason being the rules and legal challenges.
Shares of Credit Suisse Bank fell up to 25 per cent
Crisis slow Credit Suisse Bank crashed on the Swiss Stock Exchange. On Wednesday, a huge decline of up to 25 per cent has been registered in the shares of the bank. At the same time, the share prices of the bank have decreased by one-third in the last 3 months.
Swiss National Bank to give $54 billion loan to Credit Suisse
According to the report of CNBC, Swiss National Bank has come forward to help Credit Suisse. Swiss National Bank has announced a loan of $ 52.68 billion to Credit Suisse. This loan will be given as a short term loan. Credit Suisse Bank is 166 years old bank. It is counted among the largest banks in the world. It is the second largest bank in Switzerland after UBS AG. After the sinking of America’s Silicon Valley Bank and Signature Bank, it is now affecting the rest of the world’s banks as well. But Credit Suisse Bank said on this matter that the bank has huge deposits and there is no danger of its drowning.
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