Credit Suisse announced on Thursday that it would delay the publication of its 2022 annual report.
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Shares of beleaguered bank Credit Suisse hit another all-time low for the second day in a row, falling 18.3% around 10am London time on Wednesday.
According to a Reuters report, the Saudi National Bank, the biggest investor of the bank, said that it cannot provide any further financial support to the Swiss bank.
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“We can’t because we will go above 10%. It’s a regulatory issue,” Saudi National Bank President Ammar Al Khudairi told Reuters on Wednesday.
Investors are also continuing to assess the impact of the bank’s Tuesday announcement that it had found “material weaknesses” in its financial reporting procedures for 2022 and 2021.
This is breaking news, please check back later for more details.
— Elliott Smith contributed to this report.
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