The Saudi lender, the kingdom's largest by assets, acquired almost 9.9% of Credit Suisse for 5.5 billion riyals last November and is theSaudi National Bank bought 307.6 million Credit Suisse shares for 3.82 Swiss francs per share. The UBS offer of 3 billion Swiss francs values Credit Suisse shares at 0.76 francs each, more than 80% lower than the price paid by the Saudi bank.
"Changes in the valuation of SNB's investment in Credit Suisse have no impact on SNB's growth plans and forward-looking 2023 guidance," Saudi National Bank said in a bourse filing on Monday.
CIBC Scotia bank has tons of us treasuries. if people run them. they are forced to sell at a massive loss.... combined with mortgage defaults and car loan/leasing. they sure can go under and fast. I got my money out
How much did Saudi National Bank pay for this headline?
That’s because they aren’t brainwashed into sinking their money in green energy that is a joke
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Source: CNBC - 🏆 12. / 72 Read more »