Credit Suisse reaches record low

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Source: Dukascopy Bank SA


The stock price of Credit Suisse has reached a new record low level, as the biggest backer of the bank has announced that he can no longer increase its stake in the bank.

The Chairman of the Saudi National Bank Ammar Al Khudairy stated on Wednesday that an increasing of the stake in Credit Suisse would bring their holding above 10.00%. The increase would create regulatory issues.

Due to the announcement, the stock price of Credit Suisse plummeted additional 24.21%. Note that the bank's stock has been declining since the reporting of abysmal earnings on February 9.
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