Markets

Credit Suisse Reels After Top Shareholder Rules Out Raising Stake

https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-top-shareholder-rules-out-more-assistance-to-bank-lf9gfhbr

The chairman of Saudi National Bank, which became Credit Suisse’s biggest shareholder late last year, said that the bank wouldn’t boost its share of the bank past the current level of just under 10%.

“The answer is absolutely not, for many reasons outside the simplest reason, which is regulatory and statutory,” Ammar Al Khudairy said in an interview with Bloomberg TV on Wednesday. That was in response to a question on whether the bank was open to further injections if there was another call for additional funds.

Just wondering if that Promis software Robertt Maxwell sold Credit Suisse is still in operation?