Proactive Investors - Credit Suisse Group has been suspended from trading after shares plummeted 20% to a record low on Wednesday.
Shares fell below two Swiss francs (180p) amid market contagion fears following SVB’s collapse.
Saudi National Bank’s chairman (Credit Suisse’s largest investor) Ammar Al Khudairy ruled out injecting further funds into Credit Suisse (SIX:CSGN) if there was another call for additional liquidity.
Al Khudairy told Reuters that Saudi National Bank cannot provide the Swiss bank with more financial assistance, saying: “We cannot because we would go above 10%. It’s a regulatory issue.”
More to come…