Qatar doubles Credit Suisse stake as embattled lender forges ahead with strategic overhaul
Publishing timestamp: 2023-01-24 05:09:42
Summary
Qatar Investment Authority (QIA) has doubled its stake in Credit Suisse, making it the second-largest shareholder after Saudi National Bank. Credit Suisse will report its fourth-quarter and full-year earnings on Feb. 9 and has already projected a 1.5 billion Swiss franc ($1.6 billion) loss for the fourth quarter. Major U.S. investors Harris Associates and Artisan Partners have sold down their shares in Credit Suisse. Deutsche Bank and Barclays have both given Credit Suisse a "hold" rating, noting that the bank's transformation requires time to reduce costs and regain operational momentum.
Sentiment: NEUTRAL
Tickers: 0I4P-GB, 0H7D-GB, CSG.N-CH, BARC-GB,
Keywords: deutsche bank ag, wall street, economic events, credit suisse group ag, investment strategy, mergers and acquisitions, banks, qatar, business news, markets, united states, barclays plc,
Source: https://www.cnbc.com/2023/01/24/qatar-doubles-credit-suisse-stake.html