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Credit Suisse shares slide 24% after Saudi backer rules out further assistance
Shares of embattled bank Credit Suisse on Wednesday hit another all-time low for a second consecutive session, dropping by more than 24%. Trading in the bank’s shares was halted several times throughout the morning. Shares were down by just over 21% as of around 11:15 a.m. London time. Credit Suisse’s largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report. “We cannot because we would go above 10%. It’s a regulatory issue,” Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday. Speaking to CNBC’s ... (full story)
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