Saudi National Bank, Credit Suisse's largest shareholder, faces huge losses.
On March 20, 2566, CNBC reported that Saudi National Bank (SNB), the largest shareholder of Credit Suisse, suffered a huge loss as Credit Suisse failed after achieving The deal was acquired by UBS for $3.2 billion.
Saudi National Bank confirmed to CNBC on Monday that it lost about 80% on its investment, which owns about 10% of Credit Suisse, which invested 1.4 billion Swiss francs, or about $1.5 billion. Last November at 3.82 Swiss francs per share. But under the terms of UBS' rescue deal, it will pay Credit Suisse shareholders 0.76 Swiss francs per share.
Credit Suisse shares fell 62% today (March 20), while UBS shares dropped nearly 14%. Bitcoin prices moved near a nine-month high today. and increased the most in 9 years when compared weekly.
