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Saudi National Bank will not increase stake in Credit Suisse after shares drop

Credit Suisse’s financial struggles follow the collapse of Silicon Valley Bank and could likewise have ramifications for the Middle East.
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on March 15, 2023, in New York City.

The head of Saudi Arabia’s largest bank said on Wednesday that it will not inject more money into the struggling Credit Suisse. 

“Absolutely not, for many reasons,” Saudi National Bank chairman Ammar Al Khudairy told Bloomberg. 

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