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.
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.
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