Credit Suisse’s largest shareholder confirmed to CNBC that it had suffered a loss of around 80% on its investment.
Saudi National Bank is nursing major losses in the wake of Credit Suisse’s failure after a deal was reached for UBS to buy the embattled Swiss lender for $3.2 billion.
Saudi National Bank — Credit Suisse’s largest shareholder — confirmed to CNBC Monday that it had been hit with a loss of around 80% on its investment.
The Riyadh-based bank holds a roughly 10% stake in Credit Suisse, having invested 1.4 billion Swiss francs ($1.5 billion) in the Swiss lender in November of last year, at 3.
