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  • 25-01-23

    Qatar Investment Authority surges share in Credit Suisse to slightly below 7 percent

    (MENAFN) Qatar's sovereign wealth investment has surged its share in Credit Suisse to barley below 7 percent, becoming the Swiss bank's second-biggest stakeholder following Saudi National Bank, in an indication that its Gulf investor base is expanding in status.

    The Qatar Investment Authority purchased 139.03 million stakes in the Swiss lender, Refinitiv figures indicated according to a filing on Friday with the Securities and Exchange Commission which recited its latest ownership holding as of the end of last year.

    The additional stake brings the QIA's ownership in Credit Suisse to 6.87 percent, reaching an amount of 272.25 million stakes, from 5.57 percent according to the report around its last SEC filing in November.

    Credit Suisse refused to give any remarks when enquired by a news agency on Monday and the QIA did not quickly reply to a demand for comment.

    Credit Suisse's stakes surged 2.2 percent on Monday to end at 3.15 Swiss francs.

    MENAFN25012023000045014228ID1105473507

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