Essential Points
- Saudi Nationwide Lender, the kingdom’s most significant financial institution and greater part-owned by the Saudi govt, introduced Wednesday that it was investing up to $1.5 billion in Credit history Suisse — symbolizing a stake of up to 9.9%.
- The Swiss loan company posted a third-quarter net loss of 4.034 billion Swiss francs ($4.09 billion) past week, significantly worse than analyst estimates, and introduced a significant strategic overhaul.
- Shares are down close to 55% this yr following numerous scandals, management adjustments and weak earnings releases.
