The head of the national bank of Saudi Arabia resigns after the refusal of new investments in Credit Suisse
[ad_1]
Saudi Arabia’s National Bank Chairman Ammar Al-Khudairi is stepping down after his words sent shares of Swiss bank Credit Suisse plummeting. Bloomberg with reference to the statement of the National Bank. The National Bank of Saudi Arabia is one of the largest shareholders of Credit Suisse.
According to Bloomberg, the position of the head of the National Bank of Saudi Arabia will be taken by the chief executive officer of the regulator, Said Mohammed al-Ghamdi.
March 13 Credit Suisse declaredthat found “material deficiencies” in its financial statements. After that, Ammar Al-Khudairi said that the National Bank of Saudi Arabia refused new investments in the bank due to the norms of the regulator. Investors also said they expect Credit Suisse to go bankrupt. As a result, on March 15, the bank’s shares collapsed by 30%.
March 19 Swiss National Bank informed about the merger of the two largest banks in the country UBS and Credit Suisse. UBS will buy Credit Suisse shares for CHF0.5 each, for a total deal worth more than $2 billion.
More details – in the material “Kommersant” “The whole of Switzerland is in terrible turmoil”.
[ad_2]
Source link
