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Saudi National Bank loses over $1bn on Credit Suisse Investment

The ripple effect of USA & Europe spreads its tentacles globally and without doubt was going to hit the buoyant Middle East. SNB confirmed to CNBC on Monday that it had been hit with a loss of 80% on its investment in Credit Suisse. But unlike many European banks and share prices drops, SNB remains steadfast with its strategy - shares of the lender were up 0.58% on Monday, 9.20am London time.
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Without a doubt though, this will be a sign that major shareholders like SNB, will likely now want to reappraise the way they make investments and where a stake is as large as it was with Credit Suisse, will probably lead to start embedding people so they can properly understand what's happening to their investments.

https://www.cnbc.com/amp/2023/03/20/saudi-national-bank-loses-over-1-billion-on-credit-suisse-investment.html

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