The Qatar Investment Authority, Qatar’s sovereign wealth fund, increased its stake in Credit Suisse’s capital to 6.87%, according to CNBC. In this way, it is the second largest shareholder in the Swiss bank, right after the Saudi National Bank, which acquired a 9.9% stake last year as part of its participation in a capital increase of US$4.2 billion.

QIA started investing in Credit Suisse during the financial crisis and now owns 6.8% of the bank’s shares, according to Friday’s statement, reports CNBC.

Along with the 3.15% held by the Saudi family business Olayan Financing Company, it can be said that more than a fifth of the shares in the Swiss bank specializing in wealth management are held by investors from the Middle East.

Credit Suisse will report its fourth-quarter and full-year 2022 earnings on Feb. 9, and has already projected a loss of CHF1.5 billion (€1.49 billion) for the fourth quarter.


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